Daily Technical Analysis

EUR/USD

Current level – 1.1695

The currency pair surged by more than a figure during yesterday’s trading session, consecutively breaching the resistance levels at 1.1657 and at 1.1703 and even staying above 1.1754 for a short period. In the early hours of today, however, the dollar managed to regain part of its losses and, at the time of writing, can be found just below the resistance at 1.1703. The main factor expected to affect the pair within the next few hours would be the exit poll results from the U.S. presidential elections. The first resistance sits at 1.1703, with the 1.1620 level acting as an important support.

USD/JPY

Current level – 105.19

Boosted by the first exit poll results from the U.S. presidential elections, in the early hours of today’s trading session the dollar appreciated against most of the major currencies, including the yen. The currency pair breached the resistance at 104.87 and is currently headed for a test of the important resistance at 105.70. In the negative direction, the first support lies at 104.39.

GBP/USD

Current level – 1.3027

During yesterday’s session the Cable traded above 1.3000, but in the early hours of today the dollar rose sharply and the pair breached the support at 1.3006. The expectations are for the downward movement to continue, with the first target being the support at 1.2934. In the opposite direction, an important support is the level of 1.3006. Apart from the results from the U.S. presidential elections, investors will also keep an eye on the PMI services data for the UK (09:30 GMT).