EUR/USD
Current level – 1.1912
The common European currency continues to depreciate against the dollar as yet another support level, this time the one at 1.1957, was easily violated at the end of last week. The forecast is for the sell-off to continue, pushing the currency pair towards a test of the support at 1.1860. In the positive direction, the key resistance level is 1.2028. This week, investors’ attention will be focused on the European Central Bank interest rate decision (Thursday; 12:45 GMT) and the CPI data for the U.S. (Wednesday; 13:30 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1960 | 1.2104 | 1.1900 | 1.1800 |
| 1.2028 | 1.2148 | 1.1800 | 1.1750 |
USD/JPY
Current level – 108.39
The U.S. dollar gained as much as two figures against the yen during last week and the forecast is for the rally to continue with a test of the next resistance level at 108.50. In case a short-term correction is to develop, it should be limited by the support level of 107.00.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.50 | 108.50 | 107.00 | 106.02 |
| 109.00 | 109.00 | 106.63 | 105.30 |
GBP/USD
Current level – 1.3825
The U.S. dollar continues to appreciate against the sterling, as well as against most of the other major currencies. The forecast is for the Cable to test and violate the support level of 1.3773, targeting the next important support at 1.3678. In the positive direction, an important resistance level is 1.4001. This week, investors’ attention will be focused on the data for the U.K.’s GDP (Friday; 07:00 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3926 | 1.4083 | 1.3773 | 1.3678 |
| 1.4000 | 1.4179 | 1.3678 | 1.3550 |
