EUR/USD Technical View

Euro failed to reach the 1.4300 round number on Thursday and stopped only pips away; after that the pair bounced back and in today’s Asian session we saw it make an intraday high at 1.4400. Unless something unexpected happens we think we are going to trade around the current levels at least until the US session when we could see a stronger move forming. Looking for support and resistance level we have to take into consideration the current weeks high and low at 1.4450 and 1.4310 respectively as the closest levels that need to be broken for the pair to move either way.
Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number
• 1.3850 – July 24th High

GbpUsd Technical View

GbpUsd broke below 1.9900during yesterday’s trading and moved lower only to find support close to the 1.9800 area where we can see there is also a trendline connecting July’s and September swing highs at 2.0650 and 2.0365 respectively. From a technical point of view a retrace towards the former support area now turned into resistance at 2.0100 has a fair chance of happening and that will give bears a new opportunity to add to their positions; however considering the momentum we’ve had in the last few days a continuation lower is not to be ruled out as it is clear that the Gbp has lost most of its energy.

Resistance Levels

• 2.1148 – Nov 9th High
• 2.1065 – Nov 7th High
• 2.0650 – July 24th High

• 2.0365 – September 12th High

Support Levels

• 2.0200 – Round number
• 2.0000 – Round Number
• 1.9670 – August 17th Low