EUR/USD Current price: 1.3419
View Live Chart for the EUR/USD
The high expectations investors had ahead of payrolls, resulted in a dollar setback after the US added “just” 209K new jobs last month. Unemployment rate also ticked higher, up to 6.2%, and after the initial crazy spikes, the EUR/USD is up in correction mode: price approaches 1.3430, 200 SMA in the 1 hour chart and 23.6% retracement of the latest bearish run from 1.3639 to 1.3368 this week low. In the same time frame indicators present a strong upward momentum, while the 4 hours chart shows price above its 20 SMA and indicators about to cross their midlines with a strong upward slope. The critical short term level to break to confirm further advances is 1.3440, level that contained the upside for most of this week.
Support levels: 1.3405 1.3370 1.3335
Resistance levels: 1.3440 1.3475 1.3500
GBP/USD Current price: 1.6834
View Live Chart for the GBP/USD
The GBP/USD remains under pressure, having at least halted its early slide trigger by a mild weak UK Manufacturing PMI reading. The hourly chart shows price was unable to extend beyond 1.6350, with 20 SMA maintaining a strong bearish slope a few pips above and indicators holding near oversold levels. In the 4 hours chart technical readings maintain a strong bearish tone, keeping the pressure to the downside. Renewed selling pressure below 1.6815, should lead to further falls into next week.
Support levels: 1.6815 1.6770 1.6735
Resistance levels: 1.6850 1.6880 1.6920
USD/JPY Current price: 102.66
View Live Chart for the USD/JPY
The USD/JPY stands at fresh daily lows with US opening, heading towards 102.35 immediate support. The hourly chart shows indicators gaining bearish momentum and 100 SMA around 102.40, offering some intraday support in case of further slides. In the 4 hours chart indicators turned lower from overbought territory, also gaining bearish strength and supporting the shorter term view.
Support levels: 102.35 101.95 101.60
Resistance levels: 103.10 103.40 103.80
AUD/USD Current price: 0.9311
View Live Chart for the AUD/USD
Australian dollar advanced against the greenback with the news, but stalled a few pips below 0.9330 strong static resistance area. The hourly chart shows price above its 20 SMA and indicators heading higher in positive territory, albeit long upward shadows in candles suggest buyers are still containing the upside. In the 4 hours chart technical readings maintain a bearish tone, with 0.9260 as critical support to break to see a downward extension in the midterm.
Support levels: 0.9300 0.9260 0.9220
Resistance levels: 0.9330 0.9370 0.9420
Recommended Content
Editors’ Picks
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.