EUR/USD
Current level – 1.2032
The currency pair entered a correction phase at the end of last week, which deepened yesterday as the EUR/USD violated the support at 1.2064. At the time of writing, the pair is headed towards a test of the next support level of 1.2028. A successful breach of this support could lead to a new sell-off. Alternatively, if the support level of 1.2028 manages to hold off the sellers, the short-term forecast is for an upward movement towards 1.2064. Today, investors’ attention will be drawn to the preliminary CPI data for the euro area (10:00 GMT).
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2060 | 1.2220 | 1.2030 | 1.2030 |
| 1.2150 | 1.2253 | 1.1960 | 1.1960 |
USD/JPY
Current level – 106.83
The dollar continues appreciating against the yen after the USD/JPY managed to violate the important resistance at 106.63 during yesterday’s trading session. The forecast is for the pair to continue rising towards the next resistance level at 107.02 that is coming from the higher time frames. In the negative direction, the first support is the level of 106.02.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 107.00 | 107.00 | 106.60 | 104.90 |
| 107.40 | 107.40 | 106.02 | 104.50 |
GBP/USD
Current level – 1.3906
The currency pair entered a correction phase at the end of last week, which deepened yesterday as the GBP/USD violated the support at 1.3926. The forecast is for the pair to continue moving downwards and to test the support levels at 1.3842 and at 1.3773. In the positive direction, the first resistance is the aforementioned level of 1.3926.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3926 | 1.4240 | 1.3840 | 1.3770 |
| 1.4083 | 1.4300 | 1.3770 | 1.3680 |
