EUR/USD Current price: 1.0883
View Live Chart for the EUR/USD
Support levels: 1.0845 1.0815 1.0770
Resistance levels: 1.0920 1.0960 1.1010
GBP/USD Current price: 1.5270
View Live Chart for the GPB/USD
The British Pound plunged after the BOE's monthly economic meeting, against the greenback, as the Central Bank offered a doom inflation outlook. Having left rates and the APP unchanged, the BOE downgraded its inflation and growth forecast, anticipating inflation may get closer to the 2.0% target by 2017. The GBP/USD pair trades near its daily low of 1.5258, and with the 1 hour chart showing that the price is well below a bearish 20 SMA, whilst the technical indicators continue heading south, despite being in oversold levels. In the 4 hours chart, the technical indicators head sharply lower in oversold territory, whilst the price develops below a bearish 20 SMA. Additionally, the price is breaking below a daily ascendant trend line coming from October 1t low at 1.5156, all of which supports a bearish continuation.
Support levels: 1.5250 1.5220 1.5180
Resistance levels: 1.5300 1.5345 1.5390
USD/JPY Current price: 121.88
View Live Chart for the USD/JPY
Breaking higher, 122.00 key. The USD/JPY pair surged up to 121.99 early Europe, extending its rally after breaking above its 200 DMA late Wednesday. Currently retreating from the high, the 1 hour chart shows that the price remains well above its 100 and 200 SMAs that slowly aim higher far below the current level, whilst the technical indicators have turned south from near overbought levels, rather reflecting the ongoing bearish correction than supporting further declines. In the 4 hours chart, the technical indicators are also retreating partially from overbought readings, with no actual bearish momentum at the time being. The pair can enter wait-and-see mode for the rest of the day and ahead of the US Nonfarm Payroll report, albeit some follow through beyond the 122.00 figure should see it advancing steadily during the American session, towards the 122.50 region.
Support levels: 121.45 121.15 120.90
Resistance levels: 122.05 122.50 122.90
AUD/USD Current price: 0.7148
View Live Chart for the AUD/USD
The AUD/USD pair trades slightly higher daily basis, but confined to an uneventful range below 0.7150. The technical picture is mild positive in the short term, as the 1 hour chart shows that the price holds a few pips above its 20 SMA, whilst the technical indicators aim higher above their mid-lines, but lacking upward potential. In the 4 hours chart, however, the technical indicators are barely correcting higher, but remain well below their mid-lines, whist the 20 SMA stands flat above the current level, limiting changes of further gains.
Support levels: 0.7110 0.7075 0.7030
Resistance levels: 0.7160 0.7195 0.7240
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