EUR/USD
Current level – 1.1531
The common European currency continues to gain ground against the dollar as the leaders of the European Union reached an agreement on the 750 billion euro stimulus package. During yesterday’s trading session the currency pair managed to break the resistance at 1.1466, reaching a record high for this year at 1.1540. A correction is the most likely scenario, following such a sharp rise, but it should be limited by one of the support levels at 1.1466 or 1.1400.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1540 | 1.1620 | 1.1466 | 1.1330 |
| 1.1560 | 1.1700 | 1.1400 | 1.1240 |
USD/JPY
Current level – 106.86
Yesterday, the dollar slipped against the yen, as well as against most of the other currencies, reaching the lower border of the previously formed range 106.50-107.50, which is acting as a support level. The most likely scenario is for the dollar to regain some of yesterday’s losses and continue trading in the narrow range 106.50-107.50, but in case the support at 106.50 is violated, a deeper decline could follow.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 107.46 | 108.15 | 106.80 | 106.50 |
| 107.70 | 109.35 | 106.50 | 106.00 |
GBP/USD
Current level – 1.2732
The Cable continues to rise as it managed to breach above the important resistance at 1.2680. The sentiment is positive and the expectations are for the rise to continue towards the zone around 1.2800. The aforementioned resistance at 1.2680 is now acting as a support.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2730 | 1.2860 | 1.2680 | 1.2310 |
| 1.2800 | 1.2975 | 1.2600 | 1.2260 |
