EUR/USD Current price: 1.2524
View Live Chart for the EUR/USD_20120823042310.gif "d")
Extending through on yesterday’s gains, EURUSD continued higher, rising to above the 1.2500 psychological level. Resistance at 1.2543 continues to keep the longer term bearish notion intact. The sentiment is being supported by overbought signals in Stochastics.
Support levels: 1.2485 1.2440 1.2410
Resistance levels: 1.2535 1.2560 1.2590
GBP/USD Current price: 1.5876
View Live Chart for the GBP/USD (Select the currency)_20120823042325.gif "d")
Resistance via the 1.5900 figure looms over GBPUSD price action, with the major currency breaking through 1.5800 round figure resistance. The 1.5900 level is being supported by subsequent resistance provided by the 1.5897 61.8% fib resistance. Any declines will meet with initial support via 1.5823.
Support levels: 1.5850 1.5820 1.5770
Resistance levels: 1.5885 1.5930 1.5960
USD/JPY Current price: 78.56
View Live Chart for the USD/JPY (select the currency)_20120823042341.gif "d")
USDJPY retreated further, declining through the key 79.00 round figure support. Closing below the 78.90 short term target from yesterday, the major currency’s price action is now seeking respite via the 78 handle. A close below the pivotal figure would open scope for a decline to the 77.65 June 1st session low.
Support levels: 78.20 77.90 77.65
Resistance levels: 78.80 79.05 79.30
AUD/USD: Current price: 1.0503
View Live Chart for the AUD/USD (select the currency)_20120823042357.gif "d")
Rising for the third session in a row, the AUDUSD short term technical outlook remains bearish. Although bullish, the recent runup is seen as a necessary correction, back to the 1.0525 resistance – which is being reinforced by a 0.9580-1.0176 ascending trendline. Any upside momentum is likely to be built further only if the major currency is able to break 1.0600.
Support levels: 1.0490 1.0470 1.0440
Resistance levels: 1.0540 1.0570 1.0615
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