EUR/USD Current price: 1.2248View Live Chart for the EUR/USD
The EUR/USD gaped higher at the weekly opening, as dollar continues losing ground: stocks edged higher past Friday, erasing most of their weekly losses, favoring greenback slides. For this week, main risk event is FED’s Bernanke testimony at the US congress, expected to be dovish and therefore, support riskier assets. For current session, the EUR/USD hourly chart offers a limited bullish tone, as the pair already filled the opening gap, and indicators head south from overbought levels. Above a bullish 20 SMA, and below 1.2290, 23.6% retracement of the latest daily fall, pair needs to overcome that level to be able to extend gains today; in the 4 hours chart, indicators approach their midlines in negative territory, still unable to trigger buying signals. Immediate support comes now at the 1.2210/20 area, that capped the upside over the past few days.
Support levels: 1.2515 1.2170 1.2140
Resistance levels: 1.2270 1.2290 1.2330
GBP/USD Current price: 1.5579View Live Chart for the GBP/USD (Select the currency)
The GBP/USD impressive bullish run set past Friday extends with Asian opening, with the pair trading at past week highs; the hourly chart shows indicators in overbought territory, losing upward potential yet far from suggesting a downside correction yet. In the 4 hours chart the technical outlook is also bullish, although more limited. 200 EMA is located at the 1.5620 area, acting as strong dynamic resistance, in case of more gains. Corrections will finding immediate support around 1.5530, and only below this last the pair will lose its bullish tone and turn short term bearish this Monday.
Support levels: 1.5530 1.5490 1.5455
Resistance levels: 1.5585 1.5620 1.5660
USD/JPY Current price: 79.20View Live Chart for the USD/JPY (select the currency)
The USD/JPY trades lower in range, holding an overall bearish tone, as seen in the hourly chart: price develops below a bearish 20 SMA, while indicators head lower right below their midlines. In bigger time frames, 100 and 200 SMA distance widens above current price, supporting the negative outlook in the pair, although indicators remain flat around their midlines. 79.06 past Friday low comes as immediate support ahead of 78.80 price zone.
Support levels: 79.05 78.80 78.40
Resistance levels: 79.45 79.80 80.10
AUD/USD: Current price: 1.0237View Live Chart for the AUD/USD (select the currency)
Aussie holds to its strength at the weekly opening, reaching 1.0256 against the dollar, and trading above key 1.0220 static Fibonacci support. The hourly chart shows indicators exhausted to the upside in overbought levels, yet far from suggesting a slide. In the 4 hours chart indicators are crossing their midlines downside up, while price found support past week in the 1.0100 , 200 EMA in the mentioned time frame. To resume the downside, pair needs at least a daily close below that level; on the other hand, 1.0280 and 1.0330 are immediate resistances and once above this last, key level comes at 1.0360, 61.8% retracement of this year fall.
Support levels: 1.0220 1.0175 1.0140
Resistance levels: 1.0250 1.0280 1.0330
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