EUR/USD Current price: 1.1117
View Live Chart for the EUR/USD
The EUR/USD pair traded as low as 1.1103 this Wednesday, weighed by worse than expected Services PMI in the Euro area, and looming ECB meeting this Thursday. The US ADP private survey said the country added 212K new jobs last February, slightly below the 220K expected, and with January reading reviewed to the upside, up to 250K. Early in the US session, the pair trades near the mentioned low, with 1.1150 capping the upside, and the 1 hour chart showing that the price holds below a bearish 20 SMA, whilst indicators turned flat after correcting oversold readings. In the 4 hours chart the bearish tone has lost downward momentum, but is far from signaling a change in the dominant bearish trend. The market may remain on hold ahead of tomorrow's ECB decision, furthermore considering the Central Bank is expected to shed light on the QE program expected to be launched as soon as next week.
Support levels: 1.1095 1.1050 1.1010
Resistance levels: 1.115 1.1180 1.1230
GBP/USD Current price: 1.5378
View Live Chart for the GBP/USD
The GBP/USD pair trades near a three-week low of 1.5315 posted mid February, with a heavy bearish tone as per dollar broad strength against its European rivals. The 1 hour chart shows a strong bearish momentum coming from technical readings as the price extends further below a bearish 20 SMA whilst indicators accelerate lower below their midlines. In the 4 hours chart the price is sliding further below its 200 EMA, while the technical indicators gained bearish strength well below their midlines, supporting additional declines in the short term.
Support levels: 1.5315 1.5280 1.5250
Resistance levels: 1.5340 1.5385 1.5420
USD/JPY Current price: 119.55
View Live Chart for the USD/JPY
The USD/JPY pair continues to trade range bound, finding short term buyers around the 119.40 price zone. The 1 hour chart shows that the pair trades below its 100 SMA, while the technical indicators aim higher around their midlines, lacking directional strength at the time being. In the 4 hours chart the price holds well above its moving averages but the technical indicators head lower below their midlines, keeping the risk towards the downside. Nevertheless, the pair will likely continue to hold in range ahead of US monthly employment figures.
Support levels: 119.40 119.10 118.80
Resistance levels: 119.95 120.45 120.90
AUD/USD Current price: 0.7841
View Live Chart for the AUD/USD
The Australian dollar advanced up to 0.7859 against its American rival, with the pair maintaining its intraday gains. The 1 hour chart shows that the price holds above a flat 20 SMA while the technical indicators are turning south above their midlines. In the 4 hours chart the technical picture favors the upside as the indicators head higher above their midlines whilst the 20 SMA offers intraday support around 0.7800.
Support levels: 0.7800 0.7755 0.7720
Resistance levels: 0.7840 0.7890 0.7925
Recommended Content
Editors’ Picks
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades at around 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD remains on the defensive around 1.2500 ahead of BoE
The constructive tone in the Greenback maintains the risk complex under pressure on Wednesday, motivating GBP/USD to add to Tuesday's losses and gyrate around the 1.2500 zone prior to the upcoming BoE's interest rate decision.
Gold flirts with $2,320 as USD demand losses steam
Gold struggles to make a decisive move in either direction and moves sideways in a narrow channel above $2,300. The benchmark 10-year US Treasury bond yield clings to modest gains near 4.5% and limits XAU/USD's upside.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.