EUR/USD
Current level – 1.2155
The pair is currently hovering above the 1.2082 support. If it gets breached, buyers may enjoy better entries in the zone between 1.1988 and 1.2040. If the lower border of that zone is reached, strong buying pressure is expected from the market, while the retracement will be headed towards its conclusion. The first zone of resistance is found between 1.2137 and 1.2174 and, if that zone gets cleared, this should pave the way towards the 1.2270 level. Today, the ECB’s interest rate decision (12:45 GMT) is expected to raise market volatility, however traders will also closely monitor the following press conference (13:30 GMT) in search of information that could hint at the central bank’s next moves.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2174 | 1.2240 | 1.2137 | 1.1988 |
| 1.2240 | 1.2270 | 1.2082 | 1.1925 |
USD/JPY
Current level – 104.00
The small rally of the USD/JPY was limited around the resistance zone at 104.58, after which the dollar started depreciating again and tested the support level at 104.03. A confirmation of a breach here could lead to a deeper sell-off towards the important support zone at 103.72. A successful violation of the aforementioned level will strengthen the negative expectations for the future path of the Ninja. In the opposite direction, the first resistance zone for the bulls lies at the level of 104.25, but only a breach of the next target at 104.58 could lead to change in the current market sentiment.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 104.25 | 105.05 | 103.72 | 102.20 |
| 104.58 | 105.39 | 103.26 | 101.10 |
GBP/USD
Current level – 1.3306
The increasing fears for a Brexit without a deal helped bears prevail and to test the support level at 1.3291. At the time of writing, the Cable is holding over the aforementioned zone, but a confirmation of the breach is a probable scenario that could pave the way to the important support at 1.3193 and strengthen the bearish sentiment. In the positive direction, if bulls enter the market, their first target could be found at the resistance zone of 1.3390, followed by the next target at 1.3438. There are no major economic events at the moment that could affect the sterling, but volatility is expected to remain high as we draw closer and closer to the deadline for a mutually beneficial deal between the UK and the EU.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3390 | 1.3497 | 1.3291 | 1.3204 |
| 1.3438 | 1.3600 | 1.3204 | 1.3104 |
