EUR/USD
Current level – 1.1020
At the moment, the movement of the currency pair remains limited between 1.0965-1.1080 level, as the break of the upper limit from last week was not confirmed. Another test and a successful break of the resistance at 1.1080 could lead to an increase in positive sentiment and a test of the next resistance at 1.1200, followed by 1.1350. In downward direction, the first major support zone is at 1.0965. Today the Consumer Price Index (12:00 EET) data could increase market volatility.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1080 | 1.1350 | 1.0965 | 1.0650 |
| 1.1200 | 1.1470 | 1.0830 | 1.0650 |
USD/JPY
Current level – 108.50
The dollar recently lost some of its positions and during the last trading session from last week we witnessed a break of the range in downward direction with a breakthrough of the first major support at 108.50. At the time of writing the analysis, the price is on the verge of testing the same level, but in upward direction. In the event of an unsuccessful breakthrough, we may expect a decline and test of the support zone at 107.50 and then 105.10.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.50 | 111.35 | 107.50 | 105.10 |
| 109.95 | 113.70 | 106.90 | 103.60 |
GBP/USD
Current level – 1.2330
The pound managed to regain much of its lost positions and after breaking the resistance at 1.2280, the movement consolidated just above that level. The current sentiment is positive – for a test of the next resistance at 1.2535, which could lead for a test at 1.2800. The GDP data for the UK (07:00 GMT) will probably not have a huge impact on price action as the data will be for the past quarter and will not show the damage from the COVID-19 pandemic.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2535 | 1.2650 | 1.2283 | 1.1440 |
| 1.2650 | 1.2800 | 1.2000 | 1.1300 |
