EUR/USD
Current level – 1.2227
The logistical chaos and restrictions on mobility in the EU because of the new mutation of the virus continue to weigh heavily on the euro. This helped the bears prevail and the support zone at 1.2206 could not hold the negative impulse. The price dropped and headed for a test of the major target at 1.2161. A successful breach of the aforementioned zone would easily lead to future losses for the EUR against the USD and would pave the way to the lower support level at 1.2084. At the time of writing, the most probable scenario is for a retracement towards the level of 1.2206, which is now acting as a resistance. If the push is successful, we should see an attack of the upper target at 1.2268. Today, investors would be keeping an eye on the initial jobless claims data (13:30 GMT) and the new home sales data (15:00 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2268 | 1.2430 | 1.2206 | 1.2084 |
| 1.2430 | 1.2500 | 1.2161 | 1.1989 |
USD/JPY
Current level – 103.71
The power of the bulls was not enough for a successful test of the resistance zone at 103.72 and the price consolidated around the aforementioned level. Only a confirmation of a positive breach here could lead the pair to an attempt for violation of the upper target at 104.03 where a success would strengthen positive sentiments of the market participants. If bears prevail, the decline could pave the way for a test of the support level at 103.49. A breach here could deepen the dip and lead the pair to a test of the important support zone at 103.27.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 104.03 | 104.25 | 103.49 | 103.01 |
| 104.25 | 104.58 | 102.27 | 101.10 |
GBP/USD
Current level – 1.3490
The price drop was limited around the level at 1.3446. The bulls managed to gain control and led the price to a retrace and a test of the zone at 1.3497, now acting as a resistance. The overall relief after the agreement for a Brexit deal could help for a successful breach and may lead the GBP/USD to the highs around 1.3620 once again. If the resistance level at 1.3497 holds, a negative decline and violation of the support zone at 1.3446 could lead to further losses and a test of the support zone at 1.3399 or the lower target at 1.3315.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3399 | 1.3620 | 1.3446 | 1.3315 |
| 1.3497 | 1.3700 | 1.3399 | 1.3251 |
