The pair settled the session in minor positive territory after the release of the latest Empire Manufacturing report prompted broad based USD weakness and in turn supported the pair. Prior to that, price action was relatively muted and traded in close proximity to intraday option expiry levels at 1.3110/20. In terms of technical levels, supports are seen at the 30-day upper bollinger level at 1.3029, followed by 1.3000. On the other hand, resistance levels are seen at 1.3181, 1.3200 and then at 1.3242.
GBP/USD
The pair traded in tandem with EUR/USD for much of the session and as a result settled in minor positive territory. Plenty of UK macro events this week -- CPI, RPI, Retail Sales and the most recent policy meeting minutes. In terms of technical levels, supports are seen at 1.6175/45 and then at the 10-DMA line at 1.6047. On the other hand, resistance levels are seen at 1.6304/35 and then at 1.6455.
USD/JPY
The pair settled higher, after a pick up in volume in the second half of the session saw the pair stage a bit of a rally toward the 79.00 level. The move was said to be driven by touted JPY selling by macro accounts. In terms of technical levels, supports are seen at 78.16/08 and then at 78.00. On the other hand, resistance levels are seen at 79.04 and then at the 200-DMA line at 79.31.