EUR/USD
Current level – 1.1875
The currency pair continues to trade within the narrow range between the support at 1.1800 and the resistance at 1.1890. At the moment, the market has no clear direction and the bulls might try to take the trade to 1.1950. Their daily support will be the zone at 1.1844 and their first resistance remains 1.1890. It is likely that the market will need a catalyst before it starts moving in its future direction. This could be the announcement of the consumer price index for the United States today at 12:30 GMT.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1890 | 1.1950 | 1.1840 | 1.1750 |
| 1.1950 | 1.2130 | 1.1800 | 1.1716 |
USD/JPY
Current level – 110.08
The Greenback continues to recover against the yen and, in the early hours of today, trading has reached the resistance zone at 110.40. Even if the bullish rally continues, the expectations are that the movement will be limited to the zone of 110.60-110.80. Bulls can expect their first support at around 110.08. A new test of the support at 109.50 can also be expected when the bearish pressure resumes.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 110.40 | 111.03 | 110.08 | 109.00 |
| 110.80 | 111.61 | 109.53 | 108.50 |
GBP/USD
Current level – 1.3905
The sterling is about to reverse the downtrend and a breach above the resistance of 1.3925 seems a likely scenario as the bears are noticeably losing strength, while the bulls are becoming more aggressive. It is possible that the market will briefly consolidate around the current levels before buyers try to breach 1.3925. The first support for them is the area between 1.3840-1.3860. The most substantial support remains 1.3750.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3925 | 1.4000 | 1.3860 | 1.3750 |
| 1.4000 | 1.4118 | 1.3795 | 1.3610 |
