EUR/USD
Current level – 1.1318
Bulls are looking confident after the retracement of the rally from 1.11 and at the moment of writing the pair is preparing for a test of the resistance at 1.1331. If breached, the most likely scenario will be a move towards 1.1380, followed by 1.1500. If selling pressure increases, the first support is at 1.1180 where bulls should step in unless the ECB crashes the euro. High volatility is expected after the announcement of the ECB interest rate (12:45 GMT) and the following press conference where further stimuli for the European economy might be announced.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1380 | 1.1600 | 1.1180 | 1.1000 |
| 1.1500 | 1.1750 | 1.1100 | 1.0860 |
USD/JPY
Current level – 103.31
The resistance zone at 105.09 successfully stopped the upward momentum which led to sell-off and a successful violation of 103.62. At the moment of writing, the most probable scenario is a move towards 101.19. Alternatively, if bulls regain control, the first resistance lies at 105.09, followed by 106.83.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 105.50 | 108.50 | 103.60 | 101.20 |
| 106.80 | 110.00 | 102.00 | 97.80 |
GBP/USD
Current level – 1.2831
The emergency rate cut by the BOE caused the Cable to lose even more ground. The sell-off led to a violation of 1.2830 and current expectations are for a move towards 1.2757. As a result, 1.2830 is now a new minor resistance, which, if broken, could help the GBP/USD move towards 1.2900.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3015 | 1.3200 | 1.2760 | 1.2750 |
| 1.3100 | 1.3520 | 1.2730 | 1.2530 |
