EUR/USD Current price: 1.0726
View Live Chart for the EUR/USD
Support levels: 1.0715 1.0670 1.0630
Resistance levels: 1.0760 1.0810 1.0850
GBP/USD Current price: 1.5194
View Live Chart for the GPB/USD
The GBP/USD pair trades lower in range, unable to recover firmly above the 1.5200 figure, but holding nearby a few pips below it. The British Pound gapped slightly lower at the weekly opening, but the market filled it pretty fast before turning slightly lower. Short term, the 1 hour chart shows that the price is trading below a horizontal 20 SMA, and below the 38.2%retracement of its latest bearish move, while the technical indicators head nowhere below their mid-lines. In the 4 hours chart, the 20 SMA converges with the mentioned Fibonacci resistance around 1.5215, offering an immediate strong resistance, whilst the technical indicators lack directional strength in neutral territory. The pair has held above the 1.5160 region ever since recovering above it mid last week, which means a break below it is required to confirm additional slides this Monday.
Support levels: 1.5160 1.5120 1.5070
Resistance levels: 1.5215 1.5265 1.5310
USD/JPY Current price: 123.12
View Live Chart for the USD/JPY
Bullish above 123.55. The Japanese yen started the day advancing against most of its major rivals amid risk sentiment leading the way, with the USD/JPY falling down to 122.21. The currency however, changed course after the release of the latest GDP figures, showing that the economy contracted in the third quarter. Gross domestic product declined an annualized 0.8% in the three months to September, well beyond the 0.2% contraction forecasted. The negative reading fueled hopes of a QE extension in Japan, leading to a steady advance in the pair beyond the 123.00 level. Technically, the 1 hour chart shows that the price is well above its 100 and 200 SMAs, whilst the Momentum indicator continues heading higher above its 100 level, and the RSI indicator losses upward strength near overbought territory. In the 4 hours chart, the technical indicators have lost their upward momentum after crossing their mid-lines towards the upside, which at least should keep the downside limited during the upcoming hours. Should the price extend beyond last week high of 123.56, the pair has room to extend its advance up to 124.40, in route to the 125.80 year high.
Support levels: 122.80 122.30 122.00
Resistance levels: 123.55 123.90 124.40
AUD/USD Current price: 0.7092
View Live Chart for the AUD/USD
The Australian dollar is breaking lower against the greenback ahead of the US opening, somehow weighed by a plunging NZD and an easing gold. The AUD/USD pair trades below the 0.7100 level, and the 1 hour chart shows that the 20 SMA is gaining bearish strength above the current level, while the technical indicators present a neutral-to-bearish stance, turning lower in negative territory. In the 4 hours chart, the price is now below a bullish 20 SMA, whilst the technical indicators head south below their mid-lines, in line with a continued decline, particularly on a break below 0.7070, the immediate support.
Support levels: 0.7070 0.7030 0.6990
Resistance levels: 0.7150 0.7190 0.7240
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 rises toward 1.0700 after Germany and EU PMI data
EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.
GBP/USD holds above 1.2350 after UK PMIs
GBP/USD clings to modest daily gains above 1.2350 in the European session on Tuesday. The data from the UK showed that the private sector continued to grow at an accelerating pace in April, helping Pound Sterling gather strength.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.