EUR/USD
Current level – 1.1890
The criteria for an end to the pullback phase are already met. Bears didn’t manage to push to lower lows and a small range was formed between 1.1800 and 1.1820 that finished with a test. Prices are hovering near the resistance zone at 1.1900, and if bulls manage to breach it, they could take the pair towards 1.2080 and 1.2200. Crucial support for the success of the buyers is 1.1836. If there are no new higher highs, prices could bounce back into the retracement zone and the pullback could take longer to develop. Nearby supports are 1.1836 and 1.1776, however a bullish scenario would only be possible if prices fall below 1.1694.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1903 | 1.2080 | 1.1836 | 1.1580 |
| 1.2080 | 1.2200 | 1.1776 | 1.1460 |
USD/JPY
Current level – 105.64
The US dollar is showing weakness against the major world currencies. Here the support at 105.95 was easily breached with a powerful bearish move. If sell-offs continue, the next support lies around 105.45, and if pressure further intensifies, bears might even test the lows around 104.20. Pullbacks should remain limited below 106.40, in order to preserve the current market conditions.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 105.95 | 106.93 | 105.45 | 104.85 |
| 106.41 | 107.50 | 104.88 | 104.20 |
GBP/USD
Current level – 1.3128
The market price action here is similar to the one in EUR/USD. The retracement is about to end and bulls might make an attempt to overtake the resistance at 1.3160. Buyers might find first support around 1.3080. If 1.3160 is breached, prices could head towards the next resistance zones at 1.3250 and 1.3340. Sentiment here will remain positive until the pair is traded above the support 1.2950.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3160 | 1.3200 | 1.3082 | 1.2950 |
| 1.3160 | 1.3300 | 1.3010 | 1.2895 |
