Daily FX Forecast

EUR/USD

Resistance levels: 1.4190/1.4230/1.4300
Support levels: 1.4140/1.4100/1.4060

EUR/USD has fallen further to 1.4140 Support earlier today as it was suggested Today focus will be on US Pending Home Sales numbers at 14:00 GMT . The consensus is at -2.1%. The bias remains positive for further rally towards 1.4300 and higher in longer term. In short term , if the number comes out at -5.0% or more negative pullback towards 1.4190 may be seen after the event. On downside, if the number comes out at +3.0% may ease price further down to 1.4100 later today. Look to buy on pullback for test of 1.4300 and higher

Strategy-neutral.
GBP/USD

Resistance levels: 2.0450/2.0500/2.0550
Support levels: 2.0350/2.0300/2.0230

GBP/USD has remained ranged above 2.0350 first Support earlier today No change in our view The bias remains positive for retest of 2.0500 and 2.0550 in mid and longer term First Resistance comes at 2.0450. On downside, below 2.0350 first Support may ease price further down to 2.0310 and 2.0230 key one in mid term. Look to buy again on pullback for retest of 2.0500 and higher

Strategy-neutral
USD/JPY

Resistance levels: 115.90/116.40/117.10
Support levels: 115.25/114.60//114.00

USD/JPY has retested 115.90 crucial Resistance earlier today. No change in our view Above 115.90 area later today reverses price to 116.40 target and 117.10 over the next trading days.On downside, the previous Resistance at 115.25 has turned into important Support now ahead of 114.60 key one.

Strategy-neutral.

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