EUR/USD
Current level – 1.1050
The recent breach of the support level at 1.1064-70 has reaffirmed itself despite yesterday’s swing above it. The picture remains bearish, aligned with the primary trend from the higher time frames and a move towards 1.1020 remains probable. If buyers are unable to stop the declines at the aforementioned levels, the probability of a move towards 1.0970 and 1.0880 will increase. A strong move above 1.1100 is needed to help negate the current bearish view.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1070 | 1.1170 | 1.1020 | 1.0950 |
| 1.1100 | 1.1230 | 1.0970 | 1.0880 |
USD/JPY
Current level – 109.26
Bulls managed to push the price above the resistance zone at 109.20, but price momentum faded as sellers stepped in. Despite this, sentiment remains positive as the USD/JPY consolidates above the previous resistance and new support at 109.20. A move towards 109.90 is still likely, as the recent uptrend remains intact. If sellers take control, first support lies at around 108.50, followed by 107.95.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 109.65 | 109.90 | 108.50 | 107.40 |
| 109.90 | 110.60 | 107.80 | 106.60 |
GBP/USD
Current level – 1.2808
The Cable is preparing to test the support and lower border of the wide range it’s been trading in during the past few weeks. If GBP/USD successfully violates 1.2808, a more clear direction for further price moves should be defined. If the test proves unsuccessful, buyers could push the pair towards 1.2860, followed by 1.2910.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2860 | 1.3000 | 1.2800 | 1.2550 |
| 1.2970 | 1.3180 | 1.2780 | 1.2500 |
