Donald Trump’s victory supported the euro in early trades on Wednesday. Prices jumped to 1.1300 where they met a solid barrier which rejected them downwards. The euro fell to opening prices at first and after a brief pause continued to move lower. Sellers were able to extend their gains below 1.1050, pushing the price towards 1.0950. The resistance comes in at the level 1.0950, the support lies at 1.1000.
If a downward pressure persists the pair will weaken further. Should the pair consolidate below 1.0950, sellers will lead the price towards 1.0900.
The pound remained confined within a trading range between 1.2500 and 1.2400. Traders pushed prices upwards in the Asian trades on Wednesday, testing the monthly high at 1.2550. After testing the highs prices bounced downwards heading towards 1.2400. The resistance exists at the level 1.2500, the support stands at 1.2400.
A move below 1.2400 will increase sellers' strength. Bears may push prices towards 1.2300. To keep on with the recovery the GBP/USD pair needs to stay above the level 1.2500.
The pair traded mixed with half the exchanges pushing the price lower and the other half higher. A bearish tone prevailed in the Asian session on Wednesday. After reaching new monthly lows at 101.23 the USD/JPY bounced upwards accelerating its growth. Buyers were able to push the price from 101.23 to 104.50.The resistance is at 104.50, the support comes in at 104.00.
A move above 104.50 will signal the strength of buyers. In this scenario buyers will lead the price to the 105.00 resistance area. If the level 104.50 holds the price will return to 104.00.
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