EUR/USD Current price: 1.3316
View Live Chart for the EUR/USD
Believe or not, the EUR/USD manages to open yet another session around the 1.3320 level. Earlier this Wednesday, by the end of London close, dollar gathered momentum across the board, with little reason behind the movement. The EUR/USD fell to the bottom of the range and hit a daily low of 1.3263, to spend the rest of the session recovering the lost ground. While technical readings remain neutral the pair looks heavier as time goes by: lower highs daily basis are limiting the upside now with a short term descendant trend line currently around 1.3350. While the level should limit the upside, is still required a break below 1.3250/60 to confirm further falls up to 1.3180 price zone.
Support levels: 1.3290 1.3250 1.3220
Resistance levels: 1.3330 1.3350 1.3375
GBP/USD Current price: 1.5845
View Live Chart for the GBP/USD (select the currency)
The GBP/USD saw a strong bounce from 1.5801 daily low, only to remained caped by the top of latest range around 1.5880/90 area. As the EUR/USD, the pair remains confined to a tight range, consolidating near multi-weeks low. Trading below the 1.5850 mark, and with hourly indicators neutral, the downside remains favored towards 1.5770. A break above 1.5890 on the other hand, may see the pair attempt to establish above 1.5910/20 area, next short term resistance: clearance of this last is what it takes to deny the bearish tone and see further recoveries in the pair.
Support levels: 1.5850 1.5820 1.5770
Resistance levels: 1.5885 1.5915 1.5950
USD/JPY Current price: 88.62
View Live Chart for the USD/JPY (select the currency)
The USD/JPY has temporally lost its upward potential, sinking to 88.03. following recovering halted at the 88.80 strong static resistance level, and the hourly chart shows price now below 100 and 200 SMA, while indicators turn south around their midlines after the upward correction. The 4 hours chart shows the downside still limited by a bullish 100 SMA around 88.30, while indicators lose upward potential in negative territory, all of which suggest the downside remains exposed: below 87.70 the downside potential will likely increase, with 86.60 area then at sight.
Support levels: 88.30 88.00 87.70
Resistance levels: 88.80 89.10 89.45
AUD/USD: Current price: 1.0547
View Live Chart for the AUD/USD (select the currency)
The AUD/USD had also remained into its established range, entering Asian session right in the middle of it. With no clear technical readings to go with, playing the range gets more dangerous as time goes by: rather sooner than later majors will leave current lethargy. According to bigger time frames, the 1.0580/600 area should maintain the upside limited, so selling near the level with a tight stops seems the way to go.
Support levels: 1.0520 1.0490 1.0460
Resistance levels: 1.0575 1.0600 1.0660
New to Forex? Visit our Glossary!
Recommended Content
Editors’ Picks
AUD/USD favours extra retracements in the short term
AUD/USD kept the negative stance well in place and briefly broke below the key 0.6400 support to clinch a new low for the year on the back of the strong dollar and mixed results from the Chinese docket.
EUR/USD now shifts its attention to 1.0500
The ongoing upward momentum of the Greenback prompted EUR/USD to lose more ground, hitting new lows for 2024 around 1.0600, driven by the significant divergence in monetary policy between the Fed and the ECB.
Gold aiming to re-conquer the $2,400 level
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
Bitcoin price defends $60K as whales hold onto their BTC despite market dip
Bitcoin (BTC) price still has traders and investors at the edge of their seats as it slides further away from its all-time high (ATH) of $73,777. Some call it a shakeout meant to dispel the weak hands, while others see it as a buying opportunity.
Friday's Silver selloff may have actually been great news for silver bulls!
Silver endured a significant selloff last Friday. Was this another step forward in the bull market? This may seem counterintuitive, but GoldMoney founder James Turk thinks it was a positive sign for silver bulls.