EUR/USD Current price: 1.2078

View Live Chart for the EUR/USD

s

Closing in on key round figure 1.2000 support, near term prospects of a turnaround in the EURUSD are growing. Stochastic oscillator readings remain in single digit territory, and oversold, with MACD showing a narrowing bullish convergence. Any longer term correction higher requires a close above the 1.2200 resistance.

Support levels: 1.2040 1.2005 1.1980

Resistance levels: 1.2085 1.2110 1.2145

GBP/USD Current price: 1.5515

View Live Chart for the GBP/USD (Select the currency)

s

GBPUSD stalled ahead of support via the 1.5454 figure, as oscillator indications are rather neutral for the major pair. An extension of the currently bearish trend remains contingent on a break of the aforementioned figure. Any upside potential requires a violation of the upside resistance barrier at 1.5700.

Support levels: 1.5485 1.5440 1.5390

Resistance levels:  1.5530 1.5560 1.5590

USD/JPY Current price: 78.17

View Live Chart for the USD/JPY (select the currency)

s

Testing support via the 77.75 figure, the USDJPY near term technical picture looks bright. With stochastic in oversold territory, price action looks ripe for a shallow correction higher to 79.37 resistance. However, a close below the 77.75 would open the door for a further decline to 77.31.

Support levels: 78.10 77.90 77.65

Resistance levels: 78.45 78.80 79.00

AUD/USD: Current price: 1.0240

View Live Chart for the AUD/USD (select the currency)

S

A further bearish extension in the Australian dollar can be expected as the major currency has broken downside support provided by the 0.9580-1.0099 ascending trendline. Overbought stochastic oscillators signals are supportive of the notion – portending a decline to initial support via the 1.0125 38.2% fib barrier. Any near term correction should be held at bay by 1.0292 resistance.
Support levels: 1.0200 1.0170 1.0130

Resistance levels: 1.0250 1.0280 1.0315



  New to Forex? Visit our  Glossary!

Today's new term is Endaka.