EUR/USD Current price: 1.2591
View Live Chart for the EUR/USD_20120904042832.gif "s")
EURUSD has stalled ahead of resistance at 1.2633. Upside penetration of the figure would propel the single currency higher to resistance at the 1.2691 June 29th session high. Conversely, a failure to close above the level would prompt a quick decline to 1.2500 range channel support.
Support levels: 1.2550 1.2520 1.2484
Resistance levels: 1.2630 1.2680 1.2710
GBP/USD Current price: 1.5884
View Live Chart for the GBP/USD (Select the currency)_20120904042841.gif "s")
The specter of a double top formation remains intact for GBPUSD, just shy of the 1.5900 round figure barrier. Failure to close above the level would reinforce the notion of a short term decline in the spot price. This would place significant emphasis on a test of 1.5774 support.
Support levels: 1.5870 1.5840 1.5810
Resistance levels: 1.5920 1.5960 1.6000
USD/JPY Current price: 78.27
View Live Chart for the USD/JPY (select the currency)_20120904042851.gif "s")
USDJPY is set for a move higher, following a failed attempt at breaking through 78 handle support. Reinforcing the notion as bullish signals in Stochastic. With a tweezer pattern forming in the daily charts, focus is now being placed on an advance to 79.00 resistance.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.45 78.80 79.05
AUD/USD: Current price: 1.0240
View Live Chart for the AUD/USD (select the currency)_20120904042901.gif "s")
AUDUSD failed to break back through 1.0317 resistance, lending to the second decline in three sessions. The price action now tests 1.0200 round figure support. A downside penetration through the level will open scope for a decline to 1.0176, July 25th session low.
Support levels: 1.0225 1.0190 1.0140
Resistance levels: 1.0270 1.0300 1.0340
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