Daily Technical Analysis

EUR/USD

Current level – 1.1603

The bulls still cannot prevail over the bears and, at the time of writing, the currency pair is located under the 1.1618 resistance zone. The few failed attempts at breaching the mentioned level could give the bears the necessary incentive to attack the next significant support of 1.1575. Today, the focus for investors will be the announcement of the European Central Bank interest rate decision (11:45 GMT), as well as the announcement of the initial jobless claims data for the U.S. (12:30 GMT). The outcome of the mentioned economic news could largely determine the future of the currency pair.

USD/JPY

Current level – 113.57

The hesitant attack of the bulls on the 114.10 resistance zone did not lead to a success and directed the price move towards a test of the support zone of 113.70, thus giving the bears some breathing room. They, in turn, also failed to take full control of the market at the time of writing. A confirmation of the negative sentiment could occur in case of a confirmed breach of the support zone of 113.21. The Bank of Japan left the interest rate unchanged, which did not in any way affect the market or increase the volatility of the currency pair.

GBP/USD

Current level – 1.3737

After the bears failed to breach the support zone of 1.3715, there was a subsequent failed attempt by the bulls at overcoming the resistance of 1.3760. At the time of writing, the sentiment is rather neutral, as neither the bulls nor the bears are currently prevailing. A breach of any of the mentioned levels could present the market participants with the necessary momentum needed to determine the future of the currency pair.