EUR/USD Current price: 1.3053
View Live Chart for the EUR/USD
The EUR/USD edged higher during the first half of the 3/5 session, but held at 1.3075 during the European session. During the US session, we saw some continuing pressure on 1.30 handle, but it held. A break below 1.30 clears an intra-week trendline and revives a bearish outlook toward the 1.2875 (50% retracement) level. Currently, a push above 1.31 will be needed to neutralize the bearish outlook, but a push above 1.33 to clear a falling trendline will be needed to revive the bullish outlook.
Support Levels: 1.2947, 1.2978, 1.3012
Resistance Levels: 1.3077, 1.3108, 1.3142
GBP/USD Current price: 1.5132
View Live Chart for the EUR/JPY (select the currency)
GBP/USD held under 1.52, pushed below 1.51, but closed the 3/5 session slightly above where it opened, around 1.5135. The overall trend remains bearish, but the bears seem to be losing steam after the ability to push above 1.5150. A push below 1.50 could continue the bearish outlook toward 1.4780-1.48. A push above 1.5220 could develop a short-term bottom and some bullish correction, first with the 1.5320 pivot in sight.
Support Levels: 1.4980, 1.5037 1.5085
Resistance Levels: 1.5190 1.5247 1.5295
USD/JPY Current price: 93.36
View Live Chart for the USD/JPY (select the currency)
The edged lower, but held pushed back above 93.00 during the 3/5 US session. Bullish risk remains on the 95.00 handle, 2010 high. A break below 92.00 is needed to neutralize the bullish outlook, and suggest possible topping with the 90.28 pivot as the near-term target to the downside.
Support Levels: 92.33, 92.62, 92.94
Resistance Levels: 93.55, 93.84, 94.16
AUD/USD: Current price: 1.0257
View Live Chart for the AUD/USD (select the currency)
Today's bullish price action combined with yesterday's (3/4) hammer is a sign of reversal from the 1.0150 support, even though it was briefly broken. A rally above 1.03 should clear the falling channel resistance in the daily chart and neutralize the bearish outlook, with 1.0340 and then 1.0374 as possible near-term targets to the upside.
Support Levels: 1.0137, 1.0164, 1.0214
Resistance Levels: 1.0291, 1.0318, 1.0368
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.