Ivan Delgado
Independent Analyst
EUR/USD Current price: 1.3319
View Live Chart for the EUR/USD_20130121033149.gif "s")
Further consolidation ensued in the session, with the EURUSD failing to advance above the 1.3400 psychological figure. The decline has increased the probability of a near term decline. However, the notion remains contingent on a break of the 1.3270 initial support level.
Support levels: 1.3290 1.3250 1.3220
Resistance levels: 1.3350 1.3375 1.3400
GBP/USD Current price: 1.5947
View Live Chart for the GBP/USD (select the currency)_20130121033213.gif "s")
Plunging through 1.6000 support, GBPUSD dropped to close below the 1.5900 figure on the day. Price action is now set to test 1.5806 support, which is being reinforced by additionally support via the 1.5840 figure. The setup should portend a near term correction in the major.
Support levels: 1.5820 1.5770 1.5720
Resistance levels: 1.5885 1.5915 1.5950
USD/JPY Current price: 89.60
View Live Chart for the USD/JPY (select the currency)_20130121033226.gif "s")
An extension towards subsequent resistance at 90.50 is anticipated for USDJPY, now that the pair has traded through the 90.00 figure. However, a slight retracement to 89.16 support can’t be ruled out – given the rather short consolidation witnessed at the end of last week.
Support levels: 89.40 89.00 88.60
Resistance levels: 89.80 90.00 90.20
AUD/USD: Current price: 1.0520
View Live Chart for the AUD/USD (select the currency)_20130121033337.gif "l")
Breaking near term support via the 1.0544 figure, AUDUSD has moved lower to test 1.0500. Downside penetration of the figure would prompt a decline to initial support via the 1.0464 level.
Support levels: 1.0490 1.0450 1.0430
Resistance levels: 1.0520 1.0550 1.0580
New to Forex? Visit our Glossary!Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.