EUR/USD Current price: 1.2198View Live Chart for the EUR/USD
The EUR/USD nose dived amid strong risk aversion, generated by Spain and Italy: yields are record highs, stocks strongly down along with commodities, and US futures point for a negative opening below yesterdays’ low. The EUR/USD after repeatedly failing at the 1.2300 area, has finally breached the 1.2200 mark, trading also below a short term ascendant trend line coming from 1.2161, now around 1.2220 and immediate resistance in case of pullbacks. The hourly chart shows indicators strongly bearish in oversold territory with no aims of reverting the slide, while in the 4 hours chart
Support levels: 1.2185 1.2160 1.2120
Resistance levels: 1.2220 1.2250 1.2280
GBP/USD Current price: 1.5664
View Live Chart for the GBP/USD (Select the currency)
Pound fell as low as 1.5653 on risk sentiment, gaining bearish potential in the hourly chart as price stands below its 20 SMA and indicators advance south. In the 4 hours chart, bearish divergences with momentum grow with the indicator again approaching its midline after a lower high when price reached a fresh one at 1.5736 early Europe; in the same time frame, 20 SMA offers support right above mentioned low, so clear break below 1.5650 is needed now, to see the pair extending its slide towards the 1.5600/10 area, where 200 EMA will offer dynamic support.
Support levels: 1.5650 1.5605 1.5570
Resistance levels: 1.5735 1.5770 1.5880
USD/JPY Current price: 78.54View Live Chart for the USD/JPY (select the currency)
Mostly unchanged despite market woes, the USD/JPY consolidates around the weekly low set at 78.42 maintaining its bearish tone according to technical readings: the hourly chart shows price below 20 SMA while 100 and 200 SMA’s gain bearish slope well above current price, and indicators stand in negative territory. In the 4 hours chart indicators also head lower below their midlines, helping keep the upside limited. Pair needs to advance above 78.80 at least to ease the strong bearish tone, quite unlikely at this point.
Support levels: 78.40 78.10 77.85
Resistance levels: 78.80 79.00 79.20
AUD/USD: Current price: 1.0392View Live Chart for the AUD/USD (select the currency)
The AUD/USD fell below the 1.0400 mark, although the Aussie recent strength remains intact despite ongoing risk aversion. Yesterdays’ news that the Bundersbank is ready to invest in Australian denominated assets keeps the currency bid across the board. The hourly chart shows an increasing bearish tone with indicators heading south and price developing below 20 SMA, although expect the downside to remain limited with 1.0360, 61.8% retracement of this year all, as main support for the upcoming hours
Support levels: 1.0385 1.0360 1.0330
Resistance levels: 1.4010 1.0440 1.0470
New to Forex? Visit our Glossary!
Today's new term is, Certificate.