EUR/USD Current level – 1.1638

After the successful breach of the resistance at around 1.1623, there is a reversal of the trend in the currency pair. The sentiment remains positive – for continued growth and an attack of the resistance zone between 1.1668 and 1.1687. If this zone is successfully breached, the next target for the bulls would likely be the area at around 1.1750. The first daily support for the bulls is 1.1623, followed by the key level of 1.1582. Today, an increase in activity can be expected around the announcement of the consumer price index data for the euro area at 09:00 GMT.

USD/JPY Current level – 114.88

During yesterday’s trading session, two consecutive breaches of the support levels of 114.23 and 114.42 ended the range phase for the Ninja and paved the way towards the resistance zone of around 115.50. In the negative direction, the mentioned level of 114.42 is now acting as a support, and the former lower border of the range at 113.40, in which the pair was previously trading, is the major support for the pair.

EUR/USD Current level – 1.1325

The euro recovered some of its recent losses against the dollar and,during the early hours of today`s trading, the pair is testing the first resistance at 1.1365. A successful breach should lead to a continuation of the corrective move towards the target at 1.1459. However, if the bears re-enter the market at the current levels and the resistance at 1.1365 holds, another test of the support at 1.1292 would be the most probable scenario. A successful violation of the mentioned level, followed by a breach of the lower zone at 1.1263, would strengthen the negative expectations for the future path of the EUR/USD, thus deepening the sell-off that started last week.

EUR/USD Current level – 1.1607

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.

EUR/USD Current level – 1.1591

The bulls did not manage to gain enough momentum to successfully breach the resistance zone of 1.1597 and, during the early hours of today`s trading session, the pair is trading just under the mentioned level. A new test of the level in question is a highly probable scenario and, if successful, the pair will most likely continue to recover and target the resistance level of 1.1639. However, if the bears regain control of the market and breach the support zone of 1.1528, the common European currency will most likely continue to lose ground against the greenback and move towards the levels of around 1.1400. During today’s session, volatility could spike when the data for the retail sales in the U.S. is announced (today; 12:30 GMT).