EUR/USD
Current level – 1.1269
Yesterday the common European currency managed to regain its positions against the dollar after breaching the resistance at 1.1242. At the time of writing, the price is just above 1.1242 and, if this level doesn’t hold, the downward movement will most probably resume, with its first target being the important support at 1.1140. In the opposite direction, the first resistance lies at 1.1350. Today, a spike in volatility can be expected around the announcement of the new home sales data in the United States at 14:00 GMT.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1350 | 1.1400 | 1.1240 | 1.1140 |
| 1.1400 | 1.1500 | 1.1140 | 1.1100 |
USD/JPY
Current level – 106.88
Yesterday, the currency pair continued to trade in the narrow range between 106.65 and 107.11. A possible break of one of the boundaries of the range would determine the future movement. However, a break of the lower border and a test of the support at 106.00 remains the most likely scenario. In the opposite direction, the first resistance lies at 107.60.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 107.20 | 108.50 | 106.65 | 106.00 |
| 107.60 | 109.75 | 106.00 | 105.00 |
GBP/USD
Current level – 1.2482
The sterling managed to gain as much as one figure against the dollar, following a failed attempt to breach the support at 1.2340. At the time of writing, the pair is headed for a test of the resistance at 1.2500. If the retracement remains limited below 1.2500, then a new test at 1.2340, followed by one at 1.2290, would be the most likely scenario. Possible weak manufacturing PMI numbers (08:30 GMT) could further boost the bearish scenario.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2500 | 1.2725 | 1.2340 | 1.2290 |
| 1.2610 | 1.2800 | 1.2290 | 1.2240 |
