Daily Technical Analysis

EUR/USD

Current level – 1.1962

We are seeing a depreciation of the single European currency against the U.S. dollar after the support at 1.2028 was easily overcome during yesterday’s trading session. At the time of writing, the pair is facing a test of the support zone at 1.1957. The most likely scenario is for a correction in the positive direction, after which it is possible to witness another test of the mentioned level and а deeper sell-off towards the next more significant support level at 1.1860. In the upward direction, the main resistance for the currency pair is the level at 1.2028. Today, investors will keep a close eye on the announcement of the non-farm payrolls change data for the U.S. (13:30 GMT), as well as the data on the unemployment rate in the U.S. (13:30 GMT).

USD/JPY

Current level – 107.92

The U.S. dollar continues to gain positions against the Japanese yen, reaching peak levels last recorded in June 2020. This is where the first significant resistance lies – the level of 108.00. It is possible to witness a correction in the negative direction, but the sentiment should remain positive – for a breach of the mentioned level and a move towards the next resistance at 108.50.

GBP/USD

Current level – 1.3897

The pound continues to lose ground against the U.S. dollar. It is possible to witness a formation of a range between 1.3842 – 1.4001, if the support at 1.3842 manages to limit the sell-off. Otherwise, if the bears strengthen their positions, we could witness a test of the next support at 1.3773. The expected economic news that could have an impact on the market have been mentioned in the EUR/USD analysis.