EUR/USD Current price: 1.3331
View Live Chart for the EUR/USDThe EUR/USD trades slightly lower today, weighted by overall fading risk appetite: both the EU and the US had offered disappointing fundamental data, except by US December Retail Sales data, firmer. Stocks trade lower, with US futures already below Monday’s lows and heading lower, which supports the negative sentiment. The EUR/USD however, briefly broke below 1.3330, base of these last days range, and struggles around the level ahead of US opening. The 1.3300 area remains as key support level to break to expose the downside, as stops gathered below. In the meantime, the hourly chart shows a slightly bearish tone, with price below 20 SMA and indicators in negative territory. 4 hours chart shows indicators still heading south and approaching their midlines, while price founds support around a strongly bullish 20 SMA. Price needs now to stage a recovery above 1.3350, to ease the downward pressure and attempt a recovery towards 1.34 area.
Support levels: 1.3310 1.3277 1.3240
Resistance levels: 1.3350 1.3405 1.3450
GBP/USD Current price: 1.6060
View Live Chart for the GBP/USD (select the currency)Bouncing from 1.6030 as yesterday, the GBP/USD hourly chart shows the bearish pressure persists in the pair, as price seems unable to regain 1.6060/70 short term resistance level, while develops below 20 SMA. Technical indicators stand in negative territory, in the mentioned time frame, while the 4 hours chart shows an increasing bearish momentum, with indicators accelerating south below their midlines. However, price needs to extend below the 1.5990 mark to confirm a negative bias, and extend towards the 1.5950 price zone.
Support levels: 1.6025 1.5990 1.5950
Resistance levels: 1.6065 1.6090 1.6120
USD/JPY Current price: 88.76
View Live Chart for the USD/JPY (select the currency)The USD/JPY fell strongly today, reaching 88.28 before bouncing. Downside corrective movement could shortly be over, as price is challenging 88.70 resistance area, that converges with 100 SMA in the hourly chart: if price manages to advance further, there’s a chance of a recovery back above 89.00 for today. On the other hand, 200 SMA in the mentioned time frame is not around 88.00 acting as next key support in case of a deeper slide.
Support levels: 88.30 88.00 87.65
Resistance levels: 89.00 89.30 89.65
AUD/USD: Current price: 1.0536
View Live Chart for the AUD/USD (select the currency)The AUD/USD feels the pressure, falling to test 1.0520 support today on market sentiment. The pair however, found some buying interest in the area, and managed a limited bounce, caped now below 1.0550 strong static resistance level. The hourly chart shows indicators turning flat in negative territory as price develops below 20 SMA, while in the 4 hours chart, technical readings point also for further slides. If mentioned support gives up, expect a test of 1.0490 area, while a break below this last may trigger another round of strong selling, with 1.0440/60 area then at sight.
Support levels: 1.0520 1.0490 1.0450
Resistance levels: 1.0550 1.0580 1.0600
New to Forex? Visit our Glossary!
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.