EUR/USD
Current level – 1.1650
The currency pair still cannot breach the important support in the 1.1600 – 1.1620 range and the short-term forecast is for an upward movement, with the first resistance lying at 1.1657. In the medium term, however, expectations are for a downward movement and a strengthening of the dollar. Today, investors’ attention will be focused on the data regarding the business activity index for the non-manufacturing sector of ISM (13:30 GMT). However, the presidential elections in the United States is a far more important event today. Markets are expected to remain relatively calm while they await the announcement of the results.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1657 | 1.1754 | 1.1620 | 1.1375 |
| 1.1703 | 1.1784 | 1.1600 | 1.1280 |
USD/JPY
Current level – 104.72
The currency pair remains above the critical support at 104.09, which in itself is a signal for an impending upward movement. Another test of the mentioned level is possible, but the expectations are for more dollar gains in the medium term and a test of the first important resistance at 105.69.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 104.87 | 105.19 | 104.39 | 104.09 |
| 104.87 | 105.69 | 104.09 | 103.00 |
GBP/USD
Current level – 1.2916
The pound lost value against the dollar over the past few days, but failed to breach the important support at 1.2860 during yesterday’s trading session and regained some of its losses as a result. This is a signal for an impending upward movement and expectations are for a test of the first important resistance at 1.3006.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2934 | 1.3060 | 1.2860 | 1.2550 |
| 1.3000 | 1.3160 | 1.2700 | 1.2350 |
