EUR/USD
Current level – 1.1099
The emergency interest rate cut and the announcement of a 700 billion dollar quantitative easing program by the FED pushed the pair below the major support at 1.1110. In case the break is confirmed, the slide should continue towards the support zone around 1.1000. In the opposite direction, the first resistance lies at 1.1180.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1330 | 1.1480 | 1.1100 | 1.0860 |
| 1.1380 | 1.1580 | 1.1000 | 1.0780 |
USD/JPY
Current level – 107.31
The high volatility is expected to persist as the risk of a global recession is still pressuring the markets. Under these circumstances, investors will probably turn to the Japanese yen as a safe haven, pushing the pair down to the levels from last week, starting with the support zone around 105.10. In the opposite direction, only break above the resistance at 108.50 would draw a bullish scenario.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 105.10 | 108.50 | 103.60 | 101.20 |
| 106.80 | 110.00 | 102.00 | 97.80 |
GBP/USD
Current level – 1.2316
The Cable continues to slide after last week’s emergency rate cut by CBOE. As the support at 1.2520 was violated, the most likely scenario remains a test of the support at 1.2200. In the opposite direction, the previous support at 1.2520 is now acting as a resistance.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2760 | 1.2900 | 1.2520 | 1.2200 |
| 1.2830 | 1.3015 | 1.2390 | 1.2200 |
