The euro continued its sideways trades on Wednesday. The price traded in a tight range between 1.1220-1.1230. The resistance is seen at 1.1250, the support stands at 1.1200.
We will consider buying the pair if the price consolidates above 1.1250. Should the EUR/USD break the support 1.1200 downwards and the price will advance towards 1.1150.
The pound ended Wednesday’s trade positively. The price extended its recovery and consolidated around 1.3000. The current resistance is seen at 1.3000, the support exists at 1.2900.
We remain bearish on the outlook for the currency. Any rebound above 1.2900 we consider corrective. We expect a breakout of the current support and the continuation of the decline towards 1.2940 1.2900.
The USD/JPY remained under pressure. The pair consolidated above 100.40 waiting for new drivers. The resistance is at 102.50, the support comes in at 101.40.
If the pair does breaks the level 102.50 the instrument will advance towards 103.50. A move below 101.40 will trigger a move towards 100.00.
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