There are a couple to take note of on the day, as highlighted in bold.
The first ones are for EUR/USD at the 1.0500 and 1.0515 levels. And alongside key technical resistance on the weekly chart at the 1.0500 mark itself, that should provide a floor for price action in the session ahead. Keep in mind that there will be large expiries at the former for tomorrow as well.
Then, there is one at the 1.0550 level and that might act as a bit of a magnet for price action given little catalysts to work with in European morning trade. That said, the 100 and 200-hour moving averages are seen at 1.0563 and 1.0587 respectively and those are more important near-term levels in terms of limiting any upside price action for the pair currently.
Besides that, there is one for USD/CAD at the 1.4000 mark and alongside offers at the figure level could hold price action below that for now – just as we saw yesterday.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at www.forexlive.com.
