21/07/2026 Evening Reports
🔹 EUR/USD is holding above 1.1400, supported by expectations of a hawkish ECB, with markets fully pricing a September rate hike ahead of Thursday’s policy meeting.
📉 Technically, the pair remains below its 200-period SMA, while the RSI near 41 and negative MACD indicate bearish momentum. 1.1400 is the key support, while 1.1480 remains the first major resistance.
🌍 Rising Middle East tensions continue to boost safe-haven demand for the US Dollar, limiting EUR/USD upside despite the ECB’s supportive outlook. Markets are now focused on Thursday’s ECB decision for the next directional move
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🔹 GBP/USD slipped toward 1.3380 as renewed safe-haven demand supported the US Dollar, while weak UK labor market data added pressure on Sterling ahead of today’s UK CPI release.
📉 Technically, the pair remains below the 200-day SMA (1.3397), with the RSI slightly above 50 and a positive MACD suggesting momentum is neutral-to-bullish. 1.3330 is the first key support, while 1.3400–1.3455 marks the main resistance zone.
🌍 Markets are focused on UK inflation data, which could shape expectations for the BoE’s next policy move. Meanwhile, geopolitical tensions and safe-haven demand continue to underpin the US Dollar, limiting upside potential for GBP/USD.
🔹 USD/JPY remains above 163.00, trading near multi-decade highs as the wide US-Japan interest rate gap continues to support the pair. However, intervention concerns from Japanese authorities are limiting further upside.
📈 Technically, the pair maintains a bullish bias, with the RSI near 54 indicating steady buying momentum. 162.85 is the key breakout level, while 162.25 serves as the first support. A sustained move above resistance could open the door toward 164.00.
🌍 Markets are watching potential Japanese FX intervention and this week’s Japan CPI data, while higher oil prices and expectations for tighter global monetary policy continue to weigh on the yen.
