- During the Asian trading session, EURUSD managed to hold above the 1.06000 level.
- During the Asian trading session, GBPUSD continued to rally.
EURUSD chart analysis
During the Asian trading session, EURUSD managed to hold above the 1.06000 level. The pair advanced to 1.06300 where we found resistance and started a pullback. The euro is once again on the threshold of testing support at 1.06000 levels. If the current pressure continues, we could see the Euro break below and bearish options continue.
The next lower target is the previous low at the 1.05800 level. For a bullish option, we need a break above the 1.06300 level. So we have to stay up there and with new momentum try to start the continuation of the recovery. The highest potential targets are the 1.06500 and 1.06800 levels.
GBPUSD chart analysis
During the Asian trading session, GBPUSD continued to rally. The pair managed to rally back to the 1.20000 level, and if this positive consolidation continues, we could see the GBPUSD continue to rise. The next important level is 1.20200 because there we find the EMA50 moving average, which could slow the rally.
The highest potential targets are the 1.20500 and 1.21000 levels. We need negative consolidation and a pullback to the 1.19600 support level for a bearish option. A break below would add uncertainty to the rally, and we could go back to previous support at the 1.19225 level. A lower potential target is the 1.19000 level.
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