The euro decreased against the dollar on Wednesday. The price tested the support 1.1130 in the European session. The pair rebounded from the tested level in the North American session and erased some of its losses. Sellers returned to the market on Tuesday and pushed the price back to 1.1130.
Buyers will gain more power if the price fixates above 1.1200. Sellers will keep pushing the price downwards while the price is below 1.1200. The next sellers’ target is the level 1.1100.
The GBP/USD pair is under pressure. The price is in a range the second day in a row. The instrument is in-between the 1.3160 level (the 200-EMA) and the 1.3060 mark. The instrument started a new day in a consolidation close to the mark 1.1340.
We will place buy orders if the GBP/USD does a breakout at the resistance level of 1.3200. A downtrend will start as soon, as the pair drops below the level 1.3060.
The dollar keeps growing against the yen. Buyers could push the pair upwards, the price set a new weekly high at 130.50.
Buyers will keep the ball if they break the level 103.50. The level 104.50 is the next buyers’ target. A move below the 102.50 support would suggest a resumption of a downward movement. In this potential scenario sellers will lead the pair to 101.40.
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