EUR/USD
Daily maximum: 1.3788
Daily minimum: 1.3615
The euro moved lower today against the American dollar, after the German Chancellor Angela Merkel stated the European Union has to be integrated closer to survive the 'toughest hours since World War II', causing the pair to cross the market mean at 1.3717.
As a result, support 1 at 1.3618 has been breached, exposing the next support levels at 1.3489 and 1.3273 to be tested by bearish forex traders, while all resistance levels at 1.3835, 1.3923 and 1.4140 remained untapped today. The daily trading signals remain bearish.
EUR/JPY
Daily maximum: 106.39
Daily minimum: 104.85
The pair commenced a downward correction after the German Chancellor Angela Merkel said Europe is facing the toughest challenges since World War II, pushing the single European currency lower versus the Japanese yen, breaching the market mean at 105.94.
Resistance (106.47; 106.92; 107.93) levels stood firmly today amidst bearish investors' test of support 1 at 105.46 and support 2 at 104.90; the third support at 103.89 is expected to be next in line if the bearish bias continues. Meanwhile the daily market stance is neutral.
GBP/USD
Daily maximum: 1.6091
Daily minimum: 1.5906
The British pound moved higher today against the American dollar after the European stocks rebounded after new Prime Ministers in Greece and Italy have been elected, piercing the market mean at 1.6037.
All resistance (1.6138; 1.6213; 1.6411) lines held firmly today whereas a breached support 1 at 1.5940 suggests support 2 at 1.5819 and support 3 at 1.5622 might be the next targets for the bears. Meanwhile, the daily market trend remains flat.
USD/JPY
Daily maximum: 77.24
Daily minimum: 76.82
After touching the market mean at 77.23, the Japanese yen erased its earlier gains on fresh hopes that Europe will face tough times combatting with its financial problems.
None of the resistance (77.51; 77.89; 78.51) levels has been touched, whereas a breach of support 1 at 76.89 paves the way to the last remaining support lines at 76.66 and 76.04, respectively. The daily trading signals point at a bearish momentum.
USD/CHF
Daily maximum: 0.9077
Daily minimum: 0.8962
The American dollar moved south today versus the Swiss Franc as investors turned nervous after the German Chancellor Angela Merkel said Europe is going through the toughest times since World War 2.
All support (0.8939; 0.8880; 0.8750) levels remained untapped today, whereas after resistance 1 has been left behind, the path to last levels at 0.9141 and 0.9272 is clear. The daily market trend is neutral.