Current level – 1.0865
The pair managed to break the resistance at 1.0870, but then could not reach the next one at 1.0906 and consolidate by even testing again the level of 1.0870 which has already become support. The euro is projected to strengthen its position against the dollar and the pair to test and break the resistance at 1.0906 followed by 1.0941. The results of the New Homes Sales in the USA, which are expected today at 17:00 EET, could contribute to more volatility for the pair.
Current level – 110.44
The important support at 109.97 managed to hold the yen’s momentum from the last days, and now the dollar is expected to take the upper hand and the pair to move to the resistance at 111.66. If it breaks it – to the next one at 111.66. If the support at 109.97 is broken, the pair will have to break the one in the 109.50-60 zone as well, if we are to speak about the reverse of the uptrend from104.42.
Current level – 1.2984
The currency pair is on an uptrend after breaking through resistance at 1.2941 and 1.2975 – now important support. The upward movement is expected to continue and the pound to test the next major resistance at 1.3160. In the downward direction, the first supports are the above mentioned levels of 1.2941 and 1.2975.