EUR/USD
Current level – 1.1787
The currency pair started the week on a positive note, managing to breach the important resistance at 1.1761, and the expectations are for the common European currency to continue gaining positions against the dollar. The next target here is the resistance at 1.1826. The first important support lies at 1.1709. Today, higher volatility is expected around the announcement of the U.S. monthly trade balance at 12:30 GMT.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1830 | 1.1870 | 1.1761 | 1.1500 |
| 1.1870 | 1.1902 | 1.1709 | 1.1440 |
USD/JPY
Current level – 105.65
The dollar continues to recover its positions against the yen as the pair managed to breach and stay above the important resistance at 105.62 during yesterday’s trading session. The expectations are positive, for another test of 105.78 which, if successful, would pave the way towards the levels above 106.00. First support is 105.22.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 105.80 | 106.00 | 105.60 | 104.50 |
| 106.00 | 106.30 | 105.30 | 104.20 |
GBP/USD
Current level – 1.2990
The Cable managed to stay above the important support at 1.2920 and the most likely scenario for the pair is a continuation of the rally and a test of the key resistance at 1.3021, possibly followed by another test of 1.3146. An increase in volatility can be expected around the announcement of the PMI construction data for the UK at 08:30 GMT, as well as that of the U.S. news, mentioned in the EUR/USD analysis.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3021 | 1.3020 | 1.2920 | 1.2697 |
| 1.3021 | 1.3150 | 1.2858 | 1.2530 |
