EUR/USD Current price: 1.2078View Live Chart for the EUR/USD
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: 1.5515View Live Chart for the GBP/USD (Select the currency)
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: 78.17View Live Chart for the USD/JPY (select the currency)
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: 1.0240View Live Chart for the AUD/USD (select the currency)
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
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