EUR/USD
Current level – 1.1020
Yesterday the pair made an unsuccessful attempt to break the important support in the 1.0980-1.1000 area. However, the sentiment remains negative and another test of the aforementioned support is the most likely scenario as bears are still in the driving seat. In a positive direction, the first major resistance remains at 1.1068. Higher volatility is expected around 19:00 GMT when the Federal Reserve interest rate decision is to be announced and during the Federal Open Market Committee press conference (19:30 GMT). It is unlikely that the FED surprises the market participants and the interest rate should remain at the current levels with the central bank signalling that its monetary policy will not be tightened in the near future.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1070 | 1.1130 | 1.1000 | 1.0990 |
| 1.1100 | 1.1170 | 1.0990 | 1.0980 |
USD/JPY
Current level – 109.19
The USD/JPY managed to break yesterday’s range and is headed for a test of the key resistance zone 109.20-109.35. If this resistance is broken, the expectations are for an upward movement, targeting the next resistance level at 109.75. In negative direction, the key support level is at 108.77.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 109.20 | 110.22 | 108.80 | 108.40 |
| 109.75 | 111.65 | 108.40 | 107.90 |
GBP/USD
Current level – 1.3019
During yesterday’s session the pound slid against the dollar and consequently breached below the support levels at 1.3030 and 1.3000, but managed to recover partially at the end of the day. However, the sentiment is still negative and another test of the support at 1.3000 remains the most likely scenario. In an upward direction, the first major resistance is 1.3145.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3145 | 1.3210 | 1.3000 | 1.2960 |
| 1.3210 | 1.3260 | 1.2960 | 1.2790 |
