EUR/USD Current price: 1.3068View Live Chart for the EUR/USD
The EUR/USD consolidates in the 1.3040/1.3100 region since the day started, maintaining the bullish stance despite recent range. The hourly chart shows indicators in neutral territory while price hovers around 20 SMA, and in the 4 hours chart technical readings correct overbought levels with 20 SMA aiming strongly higher below current price. Latest economic developments both shores of the Atlantic favor the upside in the short/midterm, with a break above 1.3100 pointing for a retest of 1.3170 highs. Dips towards 1.2970/1.3000 will likely be seen as buying opportunities as only below 1.2880 bears can actually gain control of the pair.
Support levels: 1.3040 1.3000 1.2970
Resistance levels: 1.3100 1.3135 1.3170
GBP/USD Current price: 1.6146View Live Chart for the GBP/USD (select the currency)
The GBP/USD reached 1.6170 strong static resistance level yesterday, and traded as low as 1.6109 today. Ahead of the US opening, the pair is regaining the upside, with the hourly chart showing price above 20 SMA and indicators in positive territory, not showing much strength at the time being. In the 4 hours chart technical readings are also biased higher, with 20 SMA offering dynamic support now around 1.6120. Break above mentioned high should signal a continuation rally towards the 1.6210/20 price zone.
Support levels: 1.6120 1.6090 1.6065
Resistance levels: 1.6170 1.6215 1.6250
USD/JPY Current price: 83.43View Live Chart for the USD/JPY (select the currency)
Japanese yen remains under strong selling pressure, falling against the greenback to levels not seen since March this year. The USD/JPY rose to 83.66 before correcting slightly lower, but holding to its overall bullish trend. The hourly chart shows extreme overbought readings are already corrected, while price pushes higher, standing above 83.35, static support level. In the 4 hours chart technical readings aim higher after a limited corrective movement, supporting the short term view. 84.17 is the next target, if daily high is taken.
Support levels: 83.35 83.05 82.80
Resistance levels: 83.70 84.15 84.40
AUD/USD: Current price: 1.0550View Live Chart for the AUD/USD (select the currency)
Aussie was a few pips shy of 1.0600 against the greenback and retreated to find support in the 1.0535 level. The hourly chart of AUD/USD however holds a strong bullish stance, with indicators heading north above their midlines and price struggling above a flat 20 SMA, which suggest deeper corrections will have to wait. The strength of the pair is being limited by gold slide, yet the upside continues to be favored as long as 1.0510 holds the downside.
Support levels: 1.0535 1.0510 1.0460
Resistance levels: 1.0570 1.0620 1.0645
New to Forex? Visit our Glossary!