EUR/USD Current price: 1.2846

View Live Chart for the EUR/USD

Chart

The EUR/USD started lower but ended the first session of the week posting gains. However, with price still under 1.29, the bearish outlook still remains intact with room toward the next key support in the 1.2660-1.2680 area, which includes support factors: 1) 61.8% retracement and 2) Nov. support pivot. A break above 1.29 can start introduce further near-term relief rally.

Support Levels: 1.2692, 1.2731, 1.2789

Resistance Levels: 1.2886 , 1.2925, 1.2983

  

GBP/USD Current price: 1.5228

View Live Chart for the GBP/USD (select the currency)

Chart

The GBP/USD rallied further above the 2013 falling trendline. It now has the 1.5260 high from last week and the 1.5321 resistance pivot in sight. A more aggressive outlook for a pair that appears to have formed some bottoming price action and broke above a TL, the 38.2% retracement level in the 1.5405-1.5422 area could be in sight. Return below 1.5175 near-term support pivot could neutralize this bullish outlook. 

Support Levels 1.5122, 1.5149, 1.5185

Resistance Levels: 1.5248,1.5275, 1.5311

  

USD/JPY Current price: 93.23

View Live Chart for the USD/JPY (select the currency)

Chart

USD/JPY is in a very key development, breaking below a key siring trendlien from November when the market started to be bullish. At the moment a near-term bearish outlook is favored, with lows around the 90.85 support pivot first in sight. A return above 94.50 would be difficult in this bearish correction outlook, but if it does, look for more sideways instead of bearish correction. 

Support Levels: 91.38, 92.21, 92.69

Resistance Levels: 94.00, 94.83, 95.31

  

AUD/USD: Current price: 1.0429

View Live Chart for the AUD/USD (select the currency)

Chart

AUD/USd is fighting off recent bearish signal from a rising trendline breakdown. As price holds above the 14-day SMA, there is still bullish bias, with the Aussie holding above 1.04. It cracked a previous support at 1.0395, tagged 1.0385 but was immediately bought back to finish the day up, near 1.0440. It is at the crossroad with equal upside risk toward 1.05 as downside risk toward the 1.0335-1.0350 support area. 

Support Levels: 1.0346, 1.0366, 1.0400

Resistance Levels: 1.0454, 1.0474, 1.0508

New to Forex? Visit our Glossary!