EUR/USD
Current level – 1.1751
The currency pair made an unsuccessful attempt to breach the support at 1.1746 during yesterday’s trading session and, at the time of writing, is headed for a second test of this support. The forecasts are for the EUR/USD to breach 1.1746 and to continue moving in a downward direction, with the aims of reaching its next target of 1.1708. The first important resistance lies at 1.1791. Today, investors’ attention will be focused on the European Central Bank Interest Rate Decision (12:45 GMT), the ECB Press conference (13:30 GMT) and the Initial jobless claims data for the USA (12:30 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1791 | 1.2000 | 1.1746 | 1.1708 |
| 1.1825 | 1.2100 | 1.1746 | 1.1676 |
USD/JPY
Current level – 104.36
The currency pair managed to breach the support at 104.32, but stayed below this level only for a few hours before it returned to the 104.30 – 105.00 range, where it traded for the last couple of days. A possible second breach of the lower border of the range, followed by the next support levels at 104.16 and 103.98, would draw a bearish picture, while a breach of the upper border would signal that the bulls are entering the market.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 105.01 | 105.51 | 104.16 | 104.00 |
| 105.36 | 105.77 | 104.00 | 103.00 |
GBP/USD
Current level – 1.2994
The depreciation of the sterling against the dollar was limited by the lower border of the range (1.2990 – 1.3075) in which the pair traded since the beginning of the week. The expectations are for the pair to test and breach the upper border of the range and aim for the important resistance at 1.3144 after that. In the opposite direction, the first important support lies at 1.2890.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3010 | 1.3288 | 1.2891 | 1.2831 |
| 1.3065 | 1.3350 | 1.2772 | 1.2772 |
