EUR/USD Current Price: 1.1257

View Live Chart for the EUR/USD

e

The EUR/USD pair trades uneventfully this Monday, between 1.1215, the low set at the beginning of the day and 1.1262, the highest of the European session. Germany released the IFO survey's results for April, showing that business confidence decreased alongside with the assessment of the current situation, suggesting the economic slowdown seen during the first quarter of the year continues. Still pending of release, the US will offer its latest New Home sales figures during the upcoming session, expected to have grew modestly during March.

In the meantime, the pair remains near its daily high, but lacking directional strength, although limited towards the downside, as in the 1 hour chart, the price is above a flat 20 SMA, whilst the technical indicators are turning lower within positive territory. In the 4 hours chart, the technical bias favors the downside, as the 20 SMA has extended its decline above the current level, and maintains a strong downward slope, whilst the technical indicators are turning south below their mid-lines, after correcting from oversold levels. 

Support levels: 1.1220 1.1160 1.1120

Resistance levels:  1.1280 1.1315 1.1340

 

GBP/USD Current price: 1.4502

View Live Chart for the GBP/USD

g

The Pound outperforms its major rivals this Monday, having advanced against the greenback up to 1.4518, surpassing by a couple of pips  the high established on March 18th. Supporting the UK currency is a bounce in local share markets which opened down, and investors' decision to stay away from the EUR and the JPY, ahead of the upcoming FED and BOJ's meetings.  In the macroeconomic front, the CBI Industrial Trends survey, showed that manufacturing activity fell by less than expected in March, due to a dip in export orders, whilst domestic orders were broadly flat. Nevertheless, the GBP/USD pair holds above the 1.4500 level, and in the 1 hour chart, the price is well above a now bullish 20 SMA, whilst the technical indicators are losing upward strength near overbought readings, supporting some short term consolidation/retracement. In the 4 hours chart, however, the technical indicators present a strong upward momentum, whilst the 20 SMA accelerates higher far below the current level, indicating that the bullish potential is still strong. 

Support levels: 1.4465 1.4420 1.4370   

Resistance levels: 1.4520 1.4555 1.4600

 

USD/JPY Current price: 110.85

View Live Chart for the USD/JPY

y

Further slides below 110.65. The USD/JPY pair retreats below the 111.00 level ahead of the US opening, following news coming from Japan that suggest more easing will come in June, and not in this week meeting as initially suspected. The generally weak tone of the greenback is also supporting the intraday decline that could be exacerbated by a negative result of the upcoming US housing data. From a technical point of view, the 1 hour chart shows that the price is still far above its 100 SMA, currently around 110.00, but that the technical indicators head sharply lower within bearish territory, supporting some additional declines on a break below 110.65, a major static support level. In the 4 hours chart, the price is back below a bearish 200 SMA, whilst the technical indicators retreat from extreme overbought territory, supporting the shorter term outlook. 

Support levels: 110.65 110.30 109.80

Resistance levels: 111.00 111.40 11.90

 

AUD/USD Current price: 0.7720

View Live Chart for the AUD/USD

a

The AUD/USD pair is gaining some bullish track ahead of the US opening, recovering from a daily low of 0.7690 posted at the beginning of the week. With Australia down on holidays, the pair saw little action at the beginning of the day, now waiting for US traders to define where to go today. Technically, the 1 hour chart presents a neutral stance, with the price a few pips above a horizontal 20 SMA and the indicators heading nowhere around their mid-lines. In the 4 hours chart,  however, the risk is towards the downside, as the price is well below a bearish 20 SMA, currently around 0.7760, whilst the technical indicators stand well below their mid-lines, showing no certain directional strength. 

Support levels: 0.7690 0.7660 0.7620  

Resistance levels: 0.7760 0.7790 0.7835

 


 

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


Recommended Content

Editors’ Picks

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD has come under fresh selling pressure and trades below 1.0800 after the data from Germany showed that Retail Sales declined by 1.9% MoM in February. Resurgent US Dollar demand is adding to the downside in the pair. US data are next in focus. 

EUR/USD News

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD remains defensive near 1.2600 in European trading on Thursday. The hawkish tone from Fed Governor Christopher Waller keeps the US Dollar afloat amid a cautious trading environment ahead of key US data releases and the Good Friday trading lull. 

GBP/USD News

Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets

Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets

Gold price (XAU/USD) continues with its struggle to make it through the $2,200 mark on Thursday and oscillates in a narrow trading band through the early part of the European session. 

Gold News

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase. 

Read more

The other terminal rate: How far will policy rates be cut?

The other terminal rate: How far will policy rates be cut?

Recent communication by the Federal Reserve and the ECB has made it clear that the first cut in official interest rates is coming. Both central banks are saying the same but the ECB communication is more opaque than that of the Fed.

Read more

Majors

Cryptocurrencies

Signatures