EURUSD intra-day analysis
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EURUSD (1.0865): The EURUSD has found support at 1.0863 – 1.0854 and this could see a minor attempt at a price to push higher. However, as long as the previous high is not breached, we can expect to see some flat price action. A breakout above 1.0941 high and the support at 1.0854 will be required for the next leg of the move. To the downside, the next main support is seen at 1.0750 – 1.0740, whereas to the upside, 1.1000 remains a key price level of interest that can be targeted.
USDJPY intra-day analysis
USDJPY (111.12): USDJPY is seen consolidating above the support level 111.00 where prices are being held steady. A breakdown below 111.00 could, however, spell trouble as a decline to 109.50 is quite likely. Price action closed with an inside bar in yesterday’s session which could signify a potential break out in the near term. To the upside, strong resistance is seen at 112.00 – 111.97 which will need to be breached to ascertain further upside in prices.
GBPUSD intra-day analysis
GBPUSD (1.2907): The British pound managed to post some gains yesterday as we see price action attempting to challenge the resistance level at 1.2900. A breakout above 1.2900 will put GBPUSD on the path to test the upside targets at 1.3000 and 1.3200. But also note that the 4-hour Stochastics is showing a bearish divergence which opens the risk of a downside correction towards 1.2600 if the immediate support at 1.2800 fails to hold prices.
