EUR/USD Current price: 1.3012
View Live Chart for the EUR/USD
Back to the downside after testing 1.3060 resistance area on worse than expected US GDP q/qEUR/USD is heading north supported by 4 hours indicators, while hourly chart show 20 SMA gaining bearish slope and capping the recovery, supporting the view. To the downside, key support comes at the 1.2960 area, where the pair has found support most of this week, and we found and ascendant daily trend line coming from early July. Under that level buyers should have set stop losses, so watch for an acceleration under 1.2950, to trigger a continuation rally towards the 1.2880/1.2900 area.
Support levels: 1.2990 1.2960 1.2920
Resistance levels: 1.3020 1.3060 1.3100
GBP/USD Current price: 1.5586
View Live Chart for the GBP/USD (Select the currency)
Despite market woes Pound remains quite firm around the 1.5600 area, with no much clear definitions at this point, yet heading slightly lower as market sentiment weights on the cross. Under 20 SMA both in 1 and 4 hours charts, if daily low around 1.5550 area gives up, pair could extend its losses on profit taking as per the last day of the month.
Support levels: 1.5550 1.5520 1.5480
Resistance levels: 1.5630 1.5665 1.5690
USD/JPY Current price: 86.26
View Live Chart for the USD/JPY (select the currency)
Pair set a fresh 8-month low at 85.94 on falling stocks, having advanced 1 more step it the persisting bearish trend. Slightly oversold according to 1 and 4 hours indicators, pair is attempting a bullish corrective movement, this now will likely remain limited by 86.70 strong resistance zone. Acceleration under today’s low will find next strong support in the multiyear’s low set on November 2009 around 84.80
Support levels: 85.90 85.50 85.20
Resistance levels: 86.45 86.70 87.10
USD/CHF Current price: 1.0413
View Live Chart for the USD/CHF (select the currency)
Holding the bearish tone, pair has set a fresh weekly low at 1.0361, supporting the dominant trend. With hourly indicators still bearish yet 4 hours ones exhausted to the downside, pair needs to confirm above 1.0440 to recover the upside while if 1.0390 gives up, more bearish will be seen today, aiming towards 1.0320 strong support zone.
Support levels: 1.0395 1.0350 1.0320
Resistance levels: 1.0440 1.0470 1.0510
New to Forex? Visit our Glossary!
Today, you will find the terms: QoQ.
