EUR/USD

Current level – 1.1745

Yesterday, the pair formed a consolidation zone and, in the early hours of today’s session, prices headed towards the resistance zone of 1.1761. If the level is breached, the greenback would lose more ground and the market could challenge the resistance zone of 1.1826-1.1868. If this zone is violated, we can expect a new rally towards 1.2000 and even 1.2150. Bulls can expect to find intraday support at around 1.1709. If bears re-enter the market and manage to breach 1.1709, a new test of the support at 1.1639 may be possible. However, at the moment the fundamentals don’t suggest a further meltdown. Today, the economic calendar is packed with a series of releases, such as the Manufacturing PMI data from the Eurozone (08:00 GMT) and the U.S. (14:00 GMT), as well as the weekly initial jobless claims count for the U.S. which is scheduled for 12:30 GMT.

Resistance Support
intraday intraweek intraday intraweek
1.1760 1.1760 1.1705 1.1500
1.1830 1.1830 1.1675 1.1440

USD/JPY

Current level – 105.44

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The dollar’s weakness can be spotted in this pair as well. The bullish recovery fizzled out and the market transitioned from a channel into a range, with the first resistance being 105.62. Bears could try to challenge the support at 105.22. If the level is breached, the next target would be the zone of 105.00-104.80.

Resistance Support
intraday intraweek intraday intraweek
105.80 105.80 105.30 104.50
106.00 106.00 104.80 104.20

GBP/USD

Current level – 1.2938

After a failed test of the resistance at 1.2920 the pair consolidated around 1.2860 and the expectations are for a new test of 1.2920, possibly followed by 1.3020. The first important support is at 1.2770.

Resistance Support
intraday intraweek intraday intraweek
1.2860 1.2920 1.2770 1.2530
1.2920 1.3020 1.2530 1.2440

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