Daily Technical Analysis

EUR/USD

Current level – 1.1830

The sell-offs were limited by the support at 1.1800 and the EUR/USD is currently forming a consolidation with an upper border of 1.1834. Expectations remain positive – for the continuation of the upward movement, and the range at around the 1.1800 level is starting to attract the bulls’ attention. The market may need some time or a suitable catalyst to shake off the sellers that entered at 1.1900. However, the tendency is for another test of the aforementioned level which, if breached, would open the way for the bulls to attack the 1.2000 level. Buyers can expect to find intraday supports at 1.1800 and at 1.1754, while first resistances are the 1.1834 level and the area between 1.1880 and 1.1900. Today, a more significant market event will be the speech given by the President of the ECB Christine Lagarde at 13:00 GMT.

USD/JPY

Current level – 105.10

The recovering risk appetite and the recent movements of the pair are a strong signal for an upcoming trend reversal. First supports for the Ninja are 104.90 and 104.39. It is possible for the market to enter a consolidation phase, which should remain limited between 105.33 and 104.39. The trend remains positive – for a test and a breach of the resistance zone between 105.33 and 105.69. A possible breach of this zone would open the way for the pair towards an attack of the 106.90 level.

GBP/USD

Current level – 1.3268

The Cable recorded decent gains yesterday as the session ended close to the daily highs. In the early hours of today, the pair is holding steady – just below the resistance at 1.3272. Here, too, the trend is positive, as a breach of 1.3272 would allow the bulls to test the September high of 1.3481. Buyers can expect to find their first support at 1.3160 ​​and a more substantial one at 1.3062.