The euro was negative during the day. The pair gapped lower and extended its losses. Sellers broke the level 1.0800, 1.0750 and tested 1.0700. The resistance is seen at 1.1200, the support stands at 1.1150.
We believe the downward scenario will remain intact in the near term. A close below 1.0700 will trigger losses towards 1.0650. Bulls need to regain at least the 1.0800 zone to ease the immediate bearish pressure.
The bearish scenario prevailed on Monday. The pound gapped lower at the open and after unsuccessful attempt to fill the gap moved lower. Sellers broke the level 1.2500 and after a brief pause drove prices lower towards 1.2400. The current resistance is seen at 1.2500, the support lies at 1.2400.
The trend is still bearish and the next sellers’ target is the level 1.2400.
Buyers continued to dominate in the market. The price extended its gains on Monday. The USD/JPY pair grew and was able to test the level 108.50. The resistance is at 108.50, the support comes in at 108.00.
If the level 108.50 remains unbroken the price will roll back to 107.5. A break above this level risks a growth towards the mark 109.00.
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