The buying momentum faded around 1.2000. The EUR/USD turned neutral after approaching the level. The resistance resides at 1.2000, the support comes in at 1.1950.
We are still positive and expect a move above 1.2000. Buyers may lead the price to 1.2050 in this case.
The pound traded mixed on Wednesday. The major was strengthening the first part of the day and was able to post a fresh high at 1.3326. The pound got under pressure in the late European session and softened to 1.3200 after that. The resistance lies at 1.3300, the support comes in at 1.3200.
We still focus at 1.3300 and expect return to the level in the coming sessions.
The US dollar opened green against the yen and was able to conquer new highs. Buyers pushed the price to 110.28 where they lost momentum. The spot eased after that and returned back to the 110.00 region. The resistance lies at 111.00, the support comes in at 110.00.
The USD/JPY pair is overbought and requires some correction. The pair may pull back and soften to 109.50.
The upward trajectory stalled at 146.60. After posting fresh highs the spot rebounded downwards and returned to 146.00. The resistance lies at 147.00, the support is at 146.00.
Buyers need to consolidate their gains right now. The GBP/JPY pair may soften on the back of profit taking. Sellers may drive the pair to 145.50.
The buying interest remained intact on Wednesday. Buyers failed to advance beyond 132.00, however, they remained around fresh highs. The resistance lies at 132.00, the support lies in at 131.50.
The immediate risk is still clearly on the upside but we prefer to wait for a daily closing above 132.00 before starting buying again.
Buyers faced sellers’ resistance around 0.7300. The price bounced from the level on every attempt to the upside. The resistance is at 0.7300, the support stands 0.7250.
We believe the pair will preserve neutral-to-bearish trades in the coming sessions.
DAX is consolidating its gains hovering above 12500. The resistance lies at 12600, the support exists at 12500.
The market is likely to pull back and touch 12500 again.
Technically, the main trend is up, however, bulls do not see a reason to drive the benchmark higher. The benchmark reverted some of its recent gains and returned to 2490. The resistance lies at 2500, the support exists in at 2490.
We believe the index will remain around 2490 in the coming sessions.
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