EUR/USD Current price: 1.1329
View Live Chart for the EUR/USD
Light volumes across the forex board, keeps majors range bound, with the EUR being the worst performer so far against the greenback. Investors started the day with a positive mood given that Chinese Q3 GDP figures came out at 6.9%, beating expectations of 6.8%. Nevertheless, European stocks have lost their upward momentum as the session evolved, and Wall Street points for a flat opening. With little ahead in the macroeconomic calendar, except a couple of FOMC's members speeches, the EUR/USD suffered a bout of selling, down to 1.1308 daily basis, from where its currently bouncing. Nevertheless, the 1 hour chart shows that the price is well below its moving averages, whilst the technical indicators aim slightly higher in negative territory, keeping the upside limited. In the 4 hours chart, the 20 SMA turns lower around 1.1390, whilst the technical indicators are also bouncing some from their lows, but well below their mid-lines, supporting additional declines, should the price extend below the mentioned daily low.
Support levels: 1.1310 1.1280 1.1240
Resistance levels: 1.1375 1.1420 1.1460
GBP/USD Current price: 1.5480
View Live Chart for the GPB/USD
The common currency's generalized weakness gave the Pound a boost against the greenback, and the GBP/USD surged up to 1.5495, the daily high. Trading a few pips below the level, the pair maintains the bullish tone seen late last week, although it lacks upward momentum at the time being, giving the low volume across the board. Technically, the price consolidates near its highs and above a bullish 20 SMA in the 1 hour chart, whilst the technical indicators head slightly higher well above their mid-lines, in line with the dominant bullish trend. In the 4 hours chart, the technical indicators lack directional strength around their mid-lines, presenting a quite neutral stance, whilst the 20 SMA continues advancing below the current price. As long as above 1.5445, the downside seems quite limited, with further gains seen on a break above the mentioned daily high.
Support levels: 1.5445 1.5415 1.5380
Resistance levels: 1.5495 1.5530 1.5565
USD/JPY Current price: 119.36
View Live Chart for the USD/JPY
Risk remains towards the downside. The USD/JPY pair has shown little progress this Monday, unable to advance firmly above the 119.35 Fibonacci level, where it currently holds. The latest recovery, after posting a fresh 2-month low of 118.05, has resulted in lower highs weekly basis, which maintains the risk towards the downside. Short term, the 1 hour chart shows that the price is holding above a bearish 100 SMA, whilst the 200 SMA offers a dynamic resistance around 119.65. In the same chart, the technical indicators have turned south around their mid-lines, showing no actual strength at the time being. In the 4 hours chart, the price continues developing well below its moving averages, whilst the RSI indicator turned south around 49, anticipating additional declines for today, particularly if US stocks came under selling pressure.
Support levels: 118.90 118.55 118.05
Resistance levels: 119.65 120.00 120.35
AUD/USD Current price: 0.7267
View Live Chart for the AUD/USD
The AUD/USD pair trades flat daily basis, having met selling interest on a spike up to 0.7307, the daily high. The pair is being weighed by a tepid decline in gold prices and little progress in worldwide stocks after an initial advance. Technically speaking, the 1 hour chart is showing an increasing downward potential, as the price extends below its 20 SMA, whilst the technical indicators turned south around their mid-lines. In the 4 hours chart, the price retreated from its 20 SMA, while the technical indicators head south below their mid-lines, supporting further declines on a break below 0.7240, the immediate support.
Support levels: 0.7240 0.7210 0.7170
Resistance levels: 0.7290 0.7335 0.7380
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.