EUR/USD Current price: 1.3159View Live Chart for the EUR/USD
There are two Damocles’ swords fighting to be the next to rock markets: fiscal cliff, and what a surprise, Greece. For the US, both parties seems now more willing to do concessions and chances the country will go over a cliff got down to zero today. After last week terrible shooting in an elementary school, seems lawmakers decided to straighten up and cut the crap out for now. On the other side of the Atlantic, Greece: today’s news shown that just a few weeks after receiving latest aid, Greek tax collection is still falling well short of key targets intended to reduce the country's staggering debt, and market is already discussing the conditions the pair needs to meet, before next tranche of money due by March.
In the meantime, the EUR/USD consolidates around 1.3150/60, pretty much unchanged over the past few hours. Short term, although technical readings remain flat in neutral territory, the upside is favored as long as price holds above the 1.3125 area, with scope to test 1.3250/80 if 1.3190 is taken. Below 1.3125 on the contrary, bearish correction may try to reach 1.3070 static support level.
Support levels: 1.3150 1.3125 1.3090
Resistance levels: 1.3190 1.3245 1.3280
GBP/USD Current price: 1.6201View Live Chart for the GBP/USD (select the currency)
The GBP/USD also may no progress during the US session, holding around 1.6200, after testing October high around 1.6215 past Asian session. The hourly chart shows 20 SMA acting as immediate support right below current price, while indicators stand flat in positive territory. In the 4 hours chart, indicators show a strong upward momentum as price slowly grinds higher. A break above 1.6215 should open doors for an extension towards 1.6308 year high, as long as the downside is short term limited by 1.6140 static support.
Support levels: 1.6195 1.6140 1.6110
Resistance levels: 1.6220 1.6265 1.6310
USD/JPY Current price: 83.87View Live Chart for the USD/JPY (select the currency)
After the initial post election euphoria, the USD/JPY, managed to pull back to 83.60, almost completely filling the weekly opening gap. The pair slowly advances from the level and near 84.00 with the hourly chart showing momentum still below 100, but RSI aiming higher above 50 supporting more short term gains. As commented on previous updates, the upside remains vulnerable both in the short and the long term. In the short term, 100 SMA in the hourly chart stands around 83.45 acting as immediate support, ahead of recent lows of 83.20; as long as above this last, the short term bullish bias will prevail.
Support levels: 83.50 83.20 82.80
Resistance levels: 83.75 84.15 84.45
AUD/USD: Current price: 1.0549View Live Chart for the AUD/USD (select the currency)
The AUD/USD advanced some over US hours, yet spent most of the day trading in a tight range as most majors. The hourly chart shows price standing above a flat 20 SMA, while indicators regained positive territory, yet showing not much of a bullish momentum at the time being: price needs to overcome 1.0570 static resistance level, to be able to push higher. In the 4 hours chart technical readings remain neutral, with the upside favored as long as above 1.0510 support.
Support levels: 1.0530 1.0510 1.0460
Resistance levels: 1.0570 1.0620 1.0650
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