EUR/USD Current price: 1.3072
View Live Chart for the EUR/USDThe EUR/USD opens the week pretty much unchanged from Friday’s close, trading in the 1.3070 area, having bounced from 1.3000 psychological mark. The hourly chart shows price above 20 SMA and momentum heading higher above its midline, yet bigger time frames show indicators barely beginning to correct extreme oversold readings. Short term bullish, the longer view has turned bearish with 1.3150 now as key level to watch in case of the recoveries, as if price reaches the level yet fails to extend higher, selling pressure may drive the pair sub 1.30 over the next few days.
Support levels: 1.3040 1.3000 1.2970
Resistance levels: 1.3090 1.3120 1.3145
GBP/USD Current price: 1.6077
View Live Chart for the GBP/USD (select the currency)The GBP/USD hourly chart shows price aiming to overcome the 1.6065 static resistance level, as indicators slowly build a short term upward tone. An extension higher from current levels needs to overcome 1.6120 static resistance so as the pair is able to regain the upside. As per now, the downside remains protected by buying interest in the 1.6000/1.5990 price zone. Break below this last will open doors for a retest of 1.5820/40 area over the upcoming sessions.
Support levels: 1.6025 1.5985 1.5930
Resistance levels: 1.6085 1.6120 1.6170
USD/JPY Current price: 88.34
View Live Chart for the USD/JPY (select the currency)The upward momentum of the USD/JPY continues, with the pair trading around recent highs, still finding buyers on dips: the pair tested 87.60 after US payrolls, although regained quickly the 88.00 level. Despite extremely overbought in bigger time frames, there are no signs a turn is nearby in yen crosses. The trend is still healthy, although some corrective movements towards 86.80 cannot be ruled out. The upside however remains favored with 90.00 now at sight.
Support levels: 88.00 87.60 87.30 8
Resistance levels: 88.40 88.70 89.00
AUD/USD: Current price: 1.0508
View Live Chart for the AUD/USD (select the currency)Australian dollar holds the overall upward tone despite still trapped in range, surging above 1.0500 with the opening. The hourly chart shows a strong upward momentum in the pair, while in the 4 hours one the technical outlook also points for further gains. Market talks on a halt to rate cuts is also doing the rounds, favoring AUD/USD advances: the pair has stalled in the 1.0520/30 area in recent trading, yet once above, there’s scope for an advance towards 1.0600 with not much in the middle.
Support levels: 1.0470 1.0430 1.0400
Resistance levels: 1.0525 1.0550 1.0600
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