Daily Technical Analysis

EUR/USD

Current level – 1.1928

The bulls managed to limit the sales at the support level of 1.1835, after which the U.S. dollar lost ground against the single European currency and this led to a successful breach of the resistance at 1.1905. At the time of writing the analysis, the sentiment is still positive, for an appreciation of the euro against the dollar towards the next significant resistance at 1.2019. In the negative direction, the first important support zone for the currency pair remains the level at 1.1835. Today, investors will focus on the announcement of the data on the European Central Bank interest rate decision (12:45 GMT), as well as the data on the initial jobless claims for the U.S. (13:30 GMT).

USD/JPY

Current level – 108.52

The dollar lost momentum and, at the time of writing the analysis, it is found in an ongoing test of the support zone at 108.44. A successful breach here would lead to additional losses for the U.S. dollar. On the other hand, if the bulls manage to hold their positions, we could witness а formation of a range movement in the narrow channel 108.44 – 109.25.

GBP/USD

Current level – 1.3929

The buyers managed to gain momentum and we witnessed a successful breach of the resistance at 1.3903, which currently prevents the formation of a range movement. At the time of writing, the sentiment is still positive and the next goal for the bulls would be a test of the psychological level of resistance at 1.3995. A successful breach of this level would strengthen the bullish moods, which may result in a price increase and a test of the local highs at 1.4180.