EURUSD - Struggling Below 1.1180
The EURUSD’s volatility has been very low during the last several trading days. Though it had a fast comeback after the referendum result, bulls couldn’t sustain a strong up move. The price has found a strong resistance at 1.1180, and now is again struggling to breach it.
A break above this key level resistance could trigger a further rally for the Euro against the greenback. A rally which could aim for 1.1200 or even 1.1300. On the other hand, if the bears will push the price back down below the support area from 1.1100, we might witness a drop in the Euro towards 1.1000.
GBPUSD - After the Crush
The pound crushed after the final result of the referendum all the way to 1.3150. Right after a short comeback the price gapped negative and remained in a sideways move between the support line from 1.3147 and the local resistance from 1.3488. On a shorter time period another range can be observed between 1.3233 and 1.3335.
A break above the local support would announce another dip to the lowes hit after the referendum, or maybe signal a continuation of the pound devaluation. But if the price will manage to go over the resistance line and close on a H1 time frame above 1.3335, I will be expecting the bulls to try to push it back to 1.3488/3500.
USDJPY - Short Term Uptrend
Though the volatility is still low, the USDJPY has managed to hit new higher highs and higher lows, confirming the up trend after the referendum result. Though the trend is not a strong one, the price might continue to hit new highs and aim for a comeback towards 105.00.
On short term, I would pay attention to the support from 102.43. A break below this one would be a pretty strong bearish signal. A drop might bring the dollar back down to 101.00 against the Japanese yen.
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