EUR/USD
Current level – 1.0854
After yesterday’s unsuccessful test of the support level at 1.0830, the currency pair continues to trade in the narrow range between 1.0900 and 1.0830. A breach of the aforementioned lower border of the recent range channel could easily pave the way towards the next support at 1.0771. A successful test of which would strengthen the negative sentiment. However, if the aforementioned zone at 1.0830 holds, the more likely scenario will be a test of the resistance zone at 1.0900, followed by the one at 1.0963.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0900 | 1.1030 | 1.0830 | 1.0770 |
| 1.0960 | 1.1080 | 1.0770 | 1.0650 |
USD/JPY
Current level – 107.74
The situation here remains mostly unchanged since yesterday as price action was limited below 108.00. If sellers take back control, they could go for another test of the close support zone at 106.98, targeting the levels around 105.50. On the other hand, if the bullish momentum increases and we see a move above 108.00, a test of 108.60 will be the more likely scenario.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.00 | 110.00 | 107.00 | 103.40 |
| 108.60 | 111.50 | 105.50 | 103.40 |
GBP/USD
Current level – 1.2283
The Cable lost some ground during yesterday’s session and easily breached the support level at 1.2358 with the drop extending towards the next zone of support at 1.2280. A new attempt for a breakthrough is currently developing and, if bears successfully violate this support, 1.2162 will be on the table. Only a violation of 1.2358 and a move above 1.2471 will negate the current bearish view.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2470 | 1.2360 | 1.2280 | 1.1800 |
| 1.2620 | 1.2830 | 1.2200 | 1.1440 |
