Daily Technical Analysis

EUR/USD

Current level – 1.1806

The bears re-entered the market around the resistance at 1.1847 and the currency pair failed to maintain its daily gains. At the moment, the support at 1.1800 is withstanding the bearish pressure, but a second test of the support at 1.1770 is not ruled out. At the moment, the market direction is not clear and the movement in the range between 1.1774 and 1.1847 may continue in the next trading sessions. The daily support remains at 1.1800, and the main one is found at 1.1774. If the latter is breached, the bears can gain momentum and test the lows at around 1.1731.

USD/JPY

Current level – 109.62

The bears re-entered the market around the resistance at 1.1847 and the currency pair failed to maintain its daily gains. At the moment, the support at 1.1800 is withstanding the bearish pressure, but a second test of the support at 1.1770 is not ruled out. At the moment, the market direction is not clear and the movement in the range between 1.1774 and 1.1847 may continue in the next trading sessions. The daily support remains at 1.1800, and the main one is found at 1.1774. If the latter is breached, the bears can gain momentum and test the lows at around 1.1731.

GBP/USD

Current level – 1.3797

The Cable was aggressively sold out at around 1.3900 and the bears managed to breach the support at 1.3826. After this failed peak, the market is likely to be sitting at the beginning of a downtrend. A confirmation of the breach of 1.3826 would strengthen these expectations. The first support is 1.3785, followed by the one at 1.3732. If 1.3785 holds, the market is likely to enter in a range mode, fluctuating between 1.3785 and 1.3860.