Daily Technical Analysis

EUR/USD

Current level – 1.1851

At the time of writing, the currency pair continues its consolidation above the support zone 1.1840. A break of the mentioned level alone, will not be enough to confirm the bearish sentiment, but a test and a break of the next support zone at 1.1770 will be needed. In a positive direction, the first significant resistance for the bulls is the 1.1940 level. Today, investors will focus on the Nonfarm Payroll change and the Unemployment rate for the U.S. (12:30 GMT).

USD/JPY

Current level – 106.15

After the currency pair managed to successfully break the resistance at 105.90, the bears successfully limited the price increase to the next resistance at 106.45. It is very likely to witness a longer-lasting consolidation in this area during the last trading session of the week. The bulls will look for additional incentives to enter the market. As we can see from the larger time frames, the movement of the currency pair forms a range, limited in the narrow channel 105.00 – 107.00.

GBP/USD

Current level – 1.3278

The sell-off from the beginning of the week continues, but might be limited to the support level at 1.3220. However, if the bears manage to gain enough momentum to break the mentioned level, the next goal in front of them will be a test of the level at 1.3120. The most important economic news for today, which could lead to an increase in volatility, is the data for the PMI Construction (08:30 GMT).