Current level – 1.1802
Last week, neither the bears nor the bulls gained enough momentum to successfully violate either border of the range between 1.1759 and 1.1805. During the early hours of today`s trading, the pair is hovering just above the level at 1.1759 and a new test is the most probable scenario. A breach here would strengthen the negative expectations for the future path of the EUR/USD and would easily deepen the sell-off towards the support level at 1.1717. The first target for the buyers is still the level of 1.1805, followed by the resistance zone at 1.1850. This week, investors’ attention will be focused on the consumer confidence data for the U.S. (Tuesday; 14:00 GMT), the announcement of the Fed’s Interest Rate Decision (Wednesday; 18:00 GMT), and the data for the unemployment claims (Thursday; 12:30 GMT).
Current level – 110.18
Market participants still cannot take a clear position as the currency pair is looking to form a narrow range between 109.50 – 110.60. A breach of either boundary of the range could give market participants the incentive necessary to steer the pair in a clearer direction.
Current level – 1.3818
The pound continues to regain the lost ground against the U.S. dollar and, at the time of writing the analysis, it is trading just above the resistance zone at 1.3800. If this breach is confirmed, this could pave the way for an attack on the next resistance zone at 1.3894. This, in turn, could lead to a resumption of the upward movement towards the first significant resistance at 1.4000, and then towards the local highs at around 1.4200. In the negative direction, the main support remains 1.3739.