EUR/USD Current price: 1.3082
View Live Chart for the EUR/USD
Entering Asian session at the same levels the pair entered American one, the EUR/USD fell as lows as 1.3055 before bouncing slightly higher. The pair however, holds a short term bearish tone, as price holds below 20 SMA in the hourly chart, while indicators remain flat in negative territory. The 38.2% retracement of it latest slide is located at 1.3110, immediate short term resistance. In the 4 hours chart 20 SMA converges with the23.6% Fibonacci level of the same rally, offering support, while indicators stand in neutral territory. A break below 1.3040 area will expose 1.3000 price zone, yet further slides are not yet seen.
Support levels: 1.3040 1.3000 1.2950
Resistance levels: 1.3120 1.3145 1.3190
GBP/USD Current price: 1.6055
View Live Chart for the GBP/USD (select the currency)
Still heavy, the GBP/USD traded in the 1.6025/1.6065 range for most of the last session, limited to the upside by a bearish 20 SMA in the hourly chart. Indicators in the mentioned time frame however, had lost the bearish slope and approach their midlines, indicating some buying interest still around. In the 4 hours chart technical readings are mostly neutral, although the downside is favored, with a short term break below 1.6025, exposing midterm support around 1.5990. Expect stops around this last, and if triggered, the slowmo of these first days of the week, will be over.
Support levels: 1.6025 1.5990 1.5940
Resistance levels: 1.6120 1.6170 1.6210
USD/JPY Current price: 87.03
View Live Chart for the USD/JPY (select the currency)
The USD/JPY continues falling, barely holding around the 87.00 level. Although a deeper corrective movement could be expected, more if the pair breaks below 86.80 strong static support area, the longer term ride continues to look bullish. In the hourly chart, price is finding support around 200 SMA, while barely above mentioned 8680, while indicators head lower below their midlines. In bigger time frames, technical readings also support a downward continuation, with 85.50 now at sight.
Support levels: 86.80 86.35 86.00
Resistance levels: 87.30 87.60 88.00
AUD/USD: Current price: 1.0506
View Live Chart for the AUD/USD (select the currency)
The AUD/USD hovers at the top of its range, with Australian Retail Sales as the main market mover in current Asian session. The pair continued bouncing from lows, although short term technical readings are quite neutral due to its recent 1.0460/1.5010 range. The upside however is favored, with 1.0525 highs still the resistance level to overcome to confirm the advance.
Support levels: 1.0460 1.0430 1.0400
Resistance levels: 1.0525 1.0550 1.0600
New to Forex? Visit our Glossary!
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
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.