EUR/USD Current price: 1.2986
The EUR/USD pressures the 1.2990 area ahead of the US opening, having surged strongly early Europe. Market sentiment is quite positive in regards of Europe this Friday, although price needs now to breach above mentioned resistance level, to be able to test the daily descendant trend line coming from 1.3172, around 1.3030: bulls strength will be tested there, as the level stands also for the weekly high. Steady gains above the trend line will advance further gains for the week to come, yet failure at current area, and falls below 1.2950, will leave the trading range intact with scope today to retest 1.2910/20 area.
Support levels: 1.2950 1.2910 1.2875
Resistance levels: 1.2990 1.3030 1.3070
GBP/USD Current price: 1.6085
GBP/USD surged to test the 50% retracement of its latest bearish run, at 1.6096 from where the pair is currently retracing. However and according to technical readings, the bullish stance remains intact: hourly indicators are heading north in positive territory with room to extend, while in the 4 hours chart upward momentum is also strong. Dips should hold around 1.6065 which stands for the 38.2% retracement of the same rally, as if below, the bullish tone will be denied in the short term and price may fall back towards the 1.6020 price zone.
Support levels: 1.6065 1.6020 1.5970
Resistance levels: 1.6095 1.6120 1.6150
USD/JPY Current price: 78.36
Mostly unchanged since last updates, the USD/JPY trades in a tight range this Friday, turning slightly bearish for the short term, as the hourly chart shows price struggling to hold above 200 SMA while indicators slowly get into negative territory. In the 4 hours chart, technical readings remain flat in neutral territory, giving no clues on direction. Key resistance level is the 78.80 static area, where the pair presents also the 100 DMA.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.80 79.10 79.30
AUD/USD: Current price: 1.0241
Despite dollar is under pressure against most rivals, Aussie can’t find the strength to extend higher: the pair reached a weekly high of 1.0292 yesterday, trading heavy since the European opening, and with the hourly chart showing price below 20 SMA and indicators getting into negative territory. In the 4 hours chart price is finding support in a still bullish 20 SMA, although technical indicators rotated to the downside approaching their midlines. Lose of the 1.0200 level will put further pressure on the Australian currency, while only above 1.0300 the rally will be ready to extend.
Support levels: 1.0240 1.0210 1.0170
Resistance levels: 1.0270 1.0300 1.0335
Today's new term is Discount Rate.