Bears got the ball when buyers failed to continue their advance towards 1.2100. As a result sellers managed to lead the price from 1.2070 to the 1.2000 region during the first part of Monday. The resistance resides at 1.2050, the support comes in at 1.2000.
After touching the 1.2000 level EUR/USD will most likely move down to around the 1.1950 mark.
Despite sellers' attempts to regain control bullish views are still popular. Buyers keep the spot in an uptrend and do not want to give up their positions. However, the growing selling pressure might chance the current technical picture. The resistance lies at 1.3600, the support comes in at 1.3500. .
Despite strong buying interest we see little potential for GBP/USD rally today. The pound will most likely to change its course for a while and grind lower heading to the 1.3450 region.
Buyers faced a strong hurdle at 113.20 last week. Sellers seemed to be guarding the level and turned the US dollar around. The major softened and moved to 113.00 after that. The resistance lies at 114.00, the support comes in at 113.00.
Sellers received control now. Let’s see how long they will keep it. A bullish scenario requires a stay above 113.00. Buyers’ failure here will give sellers a chance to lower the price towards the 112.50 region.
The GBP/JPY remained in bulls' hands on Monday. However, buyers failed to drive the pair higher and the pair retreated to the 153.00 region during the European session. The resistance lies at 154.00, the support is at 153.00.
GBP/JPY remained inside a narrow ascending channel today. However, the lack of buying pressure could put on hold buyers’ plans and help sellers to retake control.
The EUR/JPY pair was unable to climb higher and retreated almost immediately after testing the 136.50 level. The euro sharply dropped to 136.00 first and then continued its slide heading towards 135.50. The resistance lies at 136.00, the support is at 135.50.
The pair is likely to continue its sell-off in the coming days heading towards the 135.00 support area.
The pair remained in an uptrend on Monday. However, according to the technical readings the upward momentum faded. The AUD failed to advance beyond 0.7850 and when sellers regained control moved below the level on Monday. The resistance is at 0.7850, the support stands 0.7800.
We see little potential for ADU/USD rally and expect a pull back towards 0.7800 now.
DAX gapped higher at the open and was able to extend its gains after the jump. The index grew up to the 13400 level, touched it and pulled back after that. The resistance lies at 13400, the support exists at 13300.
DAX is likely to preserve its positive bias. The level 13400 is the next bulls’ target now.
Market positive mood persisted on Monday. Buyers continued to advance north and broke through 2740. They are trying to continue the upward trajectory struggling with the 2750 now. The resistance lies at 2750, the support exists in at 2740.
Buyers are strong and eye the level 2750 as their next target.
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