EUR/USD
Current level – 1.2076
The euro lost a bit of ground against the dollar during yesterday’s session, but the sell-off was limited to the important support zone at 1.2058. At the time of writing, we can not exclude yet another test of the mentioned support which, if broken through, will lead to a deterioration in the market sentiments, but a move towards 1.2098 is more likely.. However, only a breach of the next target at 1.2155 could lead to a change in the current market sentiments.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2098 | 1.2181 | 1.2058 | 1.1800 |
| 1.2155 | 1.2240 | 1.1950 | 1.1600 |
USD/JPY
Current level – 104.94
The bullish momentum seems to be fading after the USD/JPY breached the major resistance zone at 104.85. If the pair closes above the mentioned level on the daily charts, the pair will most probably head towards 105.50. If the bears enter the market and successfully attack the level at 104.59, the sell-off should deepen towards the next zone at 104.20.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 105.20 | 105.80 | 104.60 | 103.80 |
| 105.80 | 106.00 | 104.20 | 103.65 |
GBP/USD
Current level – 1.3676
The minor sell-off was limited to around the level at 1.3653 and, at the time of writing this analysis, the Cable is testing the resistance zone at 1.3688. The most probable scenario is for a breach of the aforementioned level, , but only a violation of the major target at 1.3740 will cause trading to exit the range between 1.3630 and 1.3740 and lead to a future rally for the GBP/USD. If the bears take control of the market, their first target would be the support zone at 1.3633.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3740 | 1.3870 | 1.3653 | 1.3540 |
| 1.3870 | 1.3850 | 1.3633 | 1.3460 |
