Where do the support/resistance levels stand today? - Forex News by FX Leaders

Where do the support/resistance levels stand today?

Posted Monday, June 13, 2016 by
Skerdian Meta • 1 min read

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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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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