Current level – 1.1321
The complex pullback of EUR/USD seems to have ended and bulls managed to test the resistance zone around 1.1350. At the time of writing, buyers are in control of the price and are currently holding the market closely to the zone of resistance. The dollar is showing weakness across the board and this could favor a breach of the resistance zones around 1.1350 and 1.140. If the buying accelerates, we might even see a test of the resistance at 1.1500. The first major support zone for the bulls is in the 1.1260-1.1240 range.
Current level – 106.45
The pair managed to breach the support at 106.62 and quickly reached its target of around 106.00. The pullback was swift and prices bounced back for a test and confirmation of the breach. After the long consolidation bears are in charge again, with intentions to violate 106.00 and push prices lower, towards 105.30. The current support is coming from the higher time frames and sellers might experience difficulties around that level. As long as trading remains below the resistance zone in the 106.80-107.00 range the bias remains bearish.
Current level – 1.2516
The fragile recovery of the sterling resumed in yesterday’s trading session as the support at 1.2340 proved to be reliable, while the current minor one can be found at 1.2488. First resistance for the bulls lies at around 1.2550, and the next more important one is in the 1.2640-2660 range. If the momentum from the beginning of the week is preserved, the target for the bulls would be the highs around 1.2800.