EUR/USD
Current level – 1.0828
The EUR/USD successfully broke through the minor resistance at 1.0829 on Friday, but the 1.0870 resistance held in line with expectations. A break through the latter could bring a more bullish view for the short term, but at the moment of writing the sellers are still in control. Expectations are for the long-term downtrend to reasserts itself, thus making the move towards 1.0781 the more likely scenario. If the aforementioned is violated, we will probably see a sharper move towards 1.0700 and 1.0670.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0870 | 1.0940 | 1.0830 | 1.0700 |
| 1.0906 | 1.0970 | 1.0780 | 1.0670 |
USD/JPY
Current level – 111.55
After the massive gains from last week, the rally was stopped at 112.14 as the rising concerns about the spread of the coronavirus led to some profit taking and a risk-off behaviour on the market. The short-term picture is currently negative and a move towards 111.09 is likely. If selling pressure increases even more, the USD/JPY might go for a test of 109.97.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 111.60 | 113.70 | 111.10 | 109.60 |
| 112.14 | 114.70 | 110.00 | 108.30 |
GBP/USD
Current level – 1.2943
The bullish momentum from last week was lost at the resistance zone at around 1.2980, with the price currently testing the support at 1.2941. Sentiment is bullish and another test of 1.2980 is the more likely scenario, if 1.2941 does not hold, the way for another test of 1.2870 will be open.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2975 | 1.3150 | 1.2940 | 1.2870 |
| 1.3060 | 1.3200 | 1.2870 | 1.2770 |
