Daily Technical Analysis

EUR/USD

Current level – 1.1594

The sell-off was limited to the level of 1.1535 and the common European currency recovered some of its recent losses against the greenback. At the time of writing, the pair is hovering above the level of 1.1589 and а test of the next target of 1.1622 is a highly probable scenario that could easily pave the way for a test of the resistance of 1.1660. However, if the bears re-enter the marкet, a violation of the mentioned zone of 1.1589 and a successful attack on the support of 1.1535 would easily deepen the sell-off towards the levels from July at around 1.1410.

USD/JPY

Current level – 113.93

The attempt to violate the resistance of 114.42 was not successful and the dollar lost some ground against the yen. The pair breached the nearby support of 114.10 and a successful breach of the 113.70 level should head the Ninja towards the lower border of the range and main support of 113.21. If the bulls regain control, their first target would be the mentioned level of 114.10, but only a breach of 114.42 could lead to new gains and a more sustained rally for the USD/JPY.

GBP/USD

Current level – 1.3646

During yesterday’s session, the bulls did not have enough strength to start a significant correction, but despite that the Cable stabilised around the zone of 1.3665. If the pair remains under the mentioned level, the most probable scenario will be for a move towards the support of 1.3575, which would strengthen the negative expectations for the future path of the GBP/USD. If the buyers prevail, their first resistance could be found at the level of 1.3715, followed by the next target of 1.3759.