The sentiment is firmly bullish towards the euro. The major was able to break 1.2000 and advanced to 1.2050 where buyers lost momentum. The resistance resides at 1.2050, the support comes in at 1.2000.
We expect markets to stay positive in a near-term. Bulls aim at 1.2100 now.
Buyers extended their gains on Tuesday. The pound consolidated above 1.2900 first and continued its rally afterwards. Buyers were able to reach 1.2970 by the end of the European session. The resistance lies at 1.3000, the support comes in at 1.2900.
If buying sentiment remains in place the GBP/USD pair may advance up to 1.3000. This level together with the 200-EMA can slow down bulls' advance and reject the spot downwards.
The bearish sentiment persisted in the USD/JPY pair. The spot broke 109.00 in the night and continued its slide during the day. The US dollar approached 108.00 by the NY opening. The resistance lies at 109.00, the support comes in at 108.00.
The overall picture remains bearish for a decline towards 108.00.
The pound rebounded upwards after testing 140.00. However, bears found fresh strength to regain control and pushed the major back to the handle. The resistance lies at 141.00, the support is at 140.00.
The pair has a potential to extend its downward trajectory. The price may weaken down to 139.40.
After a sharp sell-off to 130.00 the market turned around. The price bounced from the level and jumped back to the fresh highs. The resistance lies at 131.50, the support lies in at 130.50.
As long as market stays above 130.50 the uptrend pressure will continue toward 131.40.
AUD/USD was in buy mode the first part of the day. Buyers finally reclaimed 0.7950 and advanced up to 0.7980 afterwards. The resistance is at 0.8000, the support stands 0.7950.
If the Aussie maintains its upbeat tone the major may reclaim 0.8000. The next target to focus on is 0.8050.
DAX gapped downwards at the open. The index jumped through 12100 and continued its negative bias afterwards. The index broke 12000 and weakened to 11900. The resistance lies at 12000, the support exists at 11900.
We believe DAX will continue its downward trajectory. The next sellers’ target is 11800.
NASDAQ remained in a near-term downward channel. Buyers pushed the price to it upper boundary, however, they failed to break above the line. The index bounced back and headed to the lower end of the downward range. The resistance lies at 5820, the support exists in at 5780.
We expect to see renewed bearish pressure in the coming sessions. The benchmark may reclaim 5780 and decline to 5740 afterwards.
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