Where do the support/resistance levels stand today?
Today the economic data is non-existent apart from the Chinese fixed asset investment in the early hours, which missed the expectations. So, all we have today are the support and resistance levels. So where are they? The resistance levels in EUR/USD, come at 1.1280, 1.13 where we might open a sell forex signal since the 59 moving average lies there, 1.1330 which is an even place for a sell forex signal if the price does reach it.
Old resistance turns into support
The immediate support comes at 1.1220-30 which held the price this morning, then 1.12 comes in play, 1,1150 and ultimately 1.11 which provided support two weeks ago. We are very weary of the GBP pairs right now due to Brexit polls coming up every minute so instead we will have a look at USD/JPY. The downtrend in this pair is stretching further today so the first support level is this morning's low at 105.70 then comes this year´s low at 105.50s which is the mother of all levels and then the 105 round number, but I doubt that will hold if 105.50 will let go. On the top side 10620 springs to mind, then 106.50, 10720s where we´d consider opening a sell forex signal and 10750s.
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