Daily Technical Analysis

EUR/USD

Current level – 1.2127

The euro rose against the dollar during yesterday’s trading session, confirming the pair’s rebound from the key support at 1.1957. The forecast is for the upward movement to continue and for the pair to test the important resistance at 1.2155. The first support is the level of 1.2098. Today, the attention of investors will be focused on the data on the core consumer price index for the United States (13:30 GMT).

USD/JPY

Current level – 104.53

Buyers were limited to just below the resistance level at 105.62, where the bears took control and directed the movement of the currency pair towards a test of the support level at 104.85. If the U.S. dollar continues to lose ground against the Japanese yen and the breach of the mentioned support is to be confirmed, it could be followed by a deeper sell-off in order for the main support zone at 104.19 to be tested.

GBP/USD

Current level – 1.3818

During yesterday’s trading session, the pound managed to breach and stay above the local high and critical resistance level of 1.3740. The upward movement continued in the first hours of today’s trading session as the pound reached its highest value against the dollar in almost 3 years – 1.3824. The forecast is for a short-term correction, followed by a continuation of the rally. A key support is the already mentioned previous resistance level of 1.3740.