EUR/USD: bearish below 1.2440


EUR/USD Current price: 1.2410

View Live Chart for the EUR/USD

e
The EUR/USD found intraday support in a better than expected German IFO number, showing local confidence rose to a 7-month high after the tepid GDP growth in the country; nevertheless, the pair’s recovery stalled so far at 1.2414 daily high, having been lifeless after the news. The US will release some manufacturing and services data in the upcoming hours which may imprint some life to the pair, but volume seems to be missing in action today. Technically, the 1 hour chart shows indicators losing upward strength and turning lower above their midlines, while price hovers above a flat 20 SMA and around the 23.6% retracement of the post Draghi decline. In the 4 hours chart indicators bounced from oversold levels, but remain well into negative territory, as 20 SMA gains bearish slope well above current price. The 1.2440 price zone stands as immediate resistance, whilst downward pressure will increase only with a break below 1.2360 year low.

Support levels: 1.2360 1.2325 1.2280 

Resistance levels: 1.2440 1.2485 1.2520

GBP/USD Current price: 1.5678

View Live Chart for the GBP/USD
g
Pound saw a short term demand alongside with EUR against the greenback, yet the pair was unable to regain the 1.5700 level. The 1 hour chart shows no directional strength coming from technical readings, although price stands above its 20 SMA and indicators in positive territory. In the 4 hours chart technical readings present a neutral stance, as per price contained for seventh day in a row within range. The top of this last stands around 1.5740 and will probably contain the upside today ahead of tomorrow’s BOE inflation hearings. 

Support levels: 1.5650 1.5610 1.5585 

Resistance levels: 1.5695 1.5740 1.5770 

USD/JPY Current price: 118.29

View Live Chart for the USD/JPY
y
The USD/JPY presents some limited advances this Monday, extending above the 118.00 level ahead of US opening. The 1 hour chart shows indicators aiming slightly higher above their midlines, while 100 SMA provides support now in the 117.70 region. In the 4 hours chart momentum diverges from price, crossing its midline to the downside within neutral territory, whilst RSI aims higher at 64 and moving averages maintain their strong upward slopes well below current price. 

Support levels:  118.20 117.70 117.45 

Resistance levels: 118.60 119.00 119.40

AUD/USD Current price: 0.8625

View Live Chart of the AUD/USD
a
Australian dollar trades at its daily low against the greenback, gaining bearish momentum in the short term, as the 1 hour chart shows 20 SMA turning strongly south above current price as indicators accelerate below their midlines, supporting some further short term declines. The 4 hours chart supports the shorter term outlook, with price accelerating below a bearish 20 SMA while indicators turned strongly south, albeit momentum holds for now above 100; immediate support stands now at 0.8590 with a break below exposing recent lows in the 0.8550 price zone.

Support levels: 0.8590 0.8550 0.8510

Resistance levels: 0.8660 0.8700 0.8740 

Recommended Content


Recommended Content

Editors’ Picks

USD/JPY holds positive ground around 151.50 following Japanese CPI data

USD/JPY holds positive ground around 151.50 following Japanese CPI data

The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours. The cautious approach from the Bank of Japan to keep monetary conditions accommodative exerts some selling pressure on the Japanese Yen.

USD/JPY News

AUD/USD holds above 0.6500 in thin trading

AUD/USD holds above 0.6500 in thin trading

The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.

AUD/USD News

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.

Gold News

Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts

Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts

Bitcoin is showing strength as markets head into the Easter holidays. As it rises, altcoins are following suit, with Ethereum and Ripple posting almost similar gains. Meanwhile, there remains an unfilled CME Gap, with a lot of liquidity also resting above and below BTC price.

Read more

Bears have been standing before a steamroller so far this year

Bears have been standing before a steamroller so far this year

Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.

Read more

Majors

Cryptocurrencies

Signatures