EUR/USD Current price: 1.3405View Live Chart for the EUR/USD
The euro slumped on Thursday after the ECB decided to keep monetary policy unchanged but Draghi said that even though the exchange rate isn't a policy target, the ECB would monitor the euro's level to see if it alters inflation risks. More dovish than expected comments weighed on the euro, which fell through several support levels and it is currently threatening the major 1.3400 area. A decisive break below could see EUR/USD easily falling towards 1.3310/00 with no much in the way. However, with short-term indicators reaching oversold levels a bounce could not be dismissed, but only above the 1.3520 area, the bearish pressure should ease.
Support levels: 1.3400 1.3350 1.3300
Resistance levels: 1.3460 1.3500 1.3520
GBP/USD Current price: 1.5710View Live Chart for the GBP/USD (Select the currency)
GBP/USD's minor recovery stalled at 1.5767 with the pair setting back towards the 1.5700 area. Cable was trapped by central banks headlines and right now is trading flat despite trend index is slightly bearish. MACD, CCI and Momentum are bearish while Stochastic is bullish in the 15-minute timeframe. In 1/hour chart, CCI and Momentum are bears with the others in neutral position. A return back above 1.5820 should neutralize recent bearish outlook, with a break above 1.59 giving way to some bullish outlook with focus back toward the 1.63 handle, although the 1.60 psychological level is also a key level to monitor. Otherwise, downside risk remains toward the 1.55 area.
Support Levels: 1.5680, 1.5640 1.5630
Resistance Levels: 1.5768 1.5872 1.5942
USD/JPY Current price: 93.24View Live Chart for the USD/JPY (select the currency)
Failing the 94.00 resistance again, the USD/JPY is trading bearish and right now is testing 93.15 support, previous resitance pivot. CCI and Momentum are bearish in 15-minutes timeframe while the same indicators remain bullish in the 1-chart windows. We need at least a break below 92.50, which would clear a rising trendline, and suggest some short-term bearish correction. Otherwise, beware of the market buying on dips.
Support Levels: 92.15, 93.00 92.50
Resistance Levels: 93.90, 94.00 94.20
AUD/USD Current price: 1.0316View Live Chart for the AUD/USD (Select the currency)
After a 2-day sell-off, the Aussie entered in a consolidation phase and has been trading within a narrow versus the greenback range during the last sessions. Short-term indicators remain neutral to slightly bearish, while in bigger time frames the negative bias is clearer. Below 1.0290, AUD/USD could extend its slide toward 1.0240 ahead of the 1.0200 mark. On the upside, the 1.0340/50 area is capping bounce attempts.
Support levels: 1.0290 1.0240 1.0200
Resistance levels: 1.0350 1.0380 1.0400
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