EUR/USD
Current level – 1.0981
The currency pair is preparing for a test of the resistance zone at 1.1000 as the dollar continues to lose ground. At the same time the US economy continues to show signs of weakness and the odds for rate cut by the FED rise. The Nonfarm payrolls data in the US (13:30 UK time) and the statement by Jerome Powell (19:00 UK time), chairman of the Fed, should lead to high volatility during the final trading session for this week. On the downside, the major support for the currency pair is at 1.0905
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1000 | 1.1176 | 1.0960 | 1.0880 |
| 1.1070 | 1.1176 | 1.0940 | 1.0830 |
USD/JPY
Current level – 106.75
The recent unsuccessful test of the resistance levels around 108.50 and growing concerns about the US economy led to a prolonged decline as the currency pair managed to make its way through the support at 107.01. If the downtrend remains intact and today’s NFP number disappoints, The USD/JPY should head for the support at 106.04 and even the levels around 105.70. In the upward direction, the first resistance is at the 107.01 zone.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 107.00 | 107.90 | 106.65 | 106.40 |
| 107.50 | 108.80 | 106.40 | 105.80 |
GBP/USD
Current level – 1.2350
The greenback remains pressured as markets focus on the employment numbers in the US and worries around Brexit seem to fade. Currently the currency pair is testing the resistance zone at 1.2350 and breakthrough in here should lead to a test of the next resistance level at 1.2420 and then at 1.2504. In negative direction, the main support lies at 1.2270.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2420 | 1.2550 | 1.2270 | 1.2100 |
| 1.2500 | 1.2600 | 1.2200 | 1.2000 |
