EUR/USD
Current level – 1.0803
After the unsuccessful tests of the support level at 1.0775 from yesterday, the EUR/USD is preparing for yet another try. A breakthrough of this major zone should lead to further declines and a continuation of the bearish trend. In the positive direction, the first resistance lies at 1.0830, but a breach of the next one at 1.0886 would help the bulls push the EUR/USD out of the formed trading range and possibly test the highs from the beginning of the month – 1.0963 and 1.1015.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0830 | 1.0960 | 1.0770 | 1.0650 |
| 1.0880 | 1.1015 | 1.0730 | 1.0560 |
USD/JPY
Current level – 107.34
The currency pair managed to break towards the resistance zone at 107.06 and, at the moment of the analysis, is about to test the next target at 107.40. Successful breach here would pave the way to the upper resistance level at 108.02 and confirm the positive sentiment of the market participants. If the bears take control, the USD/JPY could test the former resistance, now a support zone at 107.06 and, if enough momentum is gained – 106.80 and 106.45.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 107.40 | 108.00 | 107.06 | 106.45 |
| 108.00 | 108.50 | 106.80 | 105.60 |
GBP/USD
Current level – 1.2203
The sell-off was limited to the support level at around 1.2190 as the momentum withered. The difficulties which the British economy is facing and will face in the future after the slowdown in growth due to the measures against the spread of the coronavirus should encourage the bears even more. If the aforementioned support is violated, an even more bearish picture will be drawn and the most probable scenario will be a move towards 1.1800. In the positive direction, the first level of resistance lies at 1.2278, followed by the one at 1.2366.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2278 | 1.2440 | 1.2189 | 1.1800 |
| 1.2360 | 1.2640 | 1.1980 | 1.1460 |
