Daily Technical Analysis

EUR/USD

Current level – 1.1273

During the past week, the European single currency continued to shed from its value against the U.S. dollar. The bulls managed to limit the sell-off to slightly above the support level of 1.1263, but the current sentiment remains negative.. Only a successful breach of the resistance zone of 1.1365 could be a prerequisite for an additional appreciation of the euro and a test of the next significant level of 1.1459, all of which would signal that the downtrend might be over. This week, investors will focus on the new home sales (Monday; 15:00 GMT) and the initial jobless claims data for the U.S. (Wednesday; 13:30 GMT).

USD/JPY

Current level – 114.13

The test of the support of 113.77 was unsuccessful as the dollar recovered some of its recent losses against the yen and, during the early hours of today`s trading, the pair is trading just below the resistance of 114.40. If the bears re-enter the market and manage to violate the mentioned support, the decline should continue towards the zone of 113.40. The first target for the bulls is the level of 114.40, followed by the resistance of 114.90.

GBP/USD

Current level – 1.3435

The bulls couldn’t manage to breach the resistance at 1.3500 and the consolidation still continues in the interval between 1.3400 and 1.3500. The expectations for today’s trading session are for the pair to test the support at 1.3350. If this level is breached, then a downward movement towards the next support at 1.3300 would be the most probable scenario. At the time of writing, a short-lived bullish offensive towards 1.3500 before the sell-off continues still cannot be excluded.