EUR/USD Current price: 1.3115

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eurusd

The euro has continued to move higher on Wednesday and printed a 1-month high versus the dollar lifted by Moody's decision to keep Spain in investment grade and growing speculation Rajoy will seek for a bailout. EUR/USD reached a high of 1.3136 so far and maintains a bullish bias, with indicators in positive territory in 1- and 4-hour charts, with immediate target at 1.3170 (September's double top). However, the pair may have to wait to resume its rally as short-term indicators correct overbought levels. Once above this latter, EUR/USD would be at its highest in 6 months, with 1.3220 coming into view. On the downside, the 1.3070/1.3100 area offers immediate support, ahead of 1.3030 and 1.3000 that should contain dips.


Support levels: 1.3100 1.3070 1.3030

Resistance levels:  1.3140 1.3172 1.3220


GBP/USD Current price: 1.6160

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gbpusd

The GBP/USD jumped around 60 pips in the European morning from 1.6115 to reach the highest level since Oct. 5th at 1.6170, where the rally made a pause as indicators gone overbought. Now the cable is testing the 1.6150 level with 0.25% gains so far today. In 1h chart bias is bullish with momentum and CCI in the positive side. Pair should hold above 1.6130 support (previous high zone and 20 hours MA) to contain the downside. In 4 hours chart, indicators are bullish too with the pair holding above 1.6130/45. A break below, will likely push price towards key 1.6100 and 1.6065 support, where some decent buying could be expected.

Resistance: 1.6175, 1.6200 and 1.6215

Support: 1.6130, 1.6100 and 1.6165


USD/JPY Current price: 78.65

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usdjpy

The USD/JPY remains trapped in a a 20 pips range between 78.60 and 78.80, with the pair still struggling between offer and demand around key 78.80 price zone. Indicators are mixed with momentum in the positive side but CCI and MACD on the bearish in the 1 hora chart. In 4 hours chart, indicators are flat. Pair must hold above the 78.60 key level to do another attempt to 78.90/79.00 zone, otherwise, any close below the figure would open the door for a move to 78.00.

Resistance levels: 78.80, 78.90 and 79.00

Support levels: 78.60, 78.45 and 78.30


AUD/USD: Current price: 1.0338

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audusd

The Australian dollar finally broke above the 1.0300 mark, underpinned by the positive market mood, and touched a 2-week high of 1.0355 before easing. Indicators support the positive bias with the 1.0400 hurdle as next bullish target, although with the pair reaching overbought readings in 1- and 4-hour charts, corrective pullbacks should now be ruled out.  The 1.0300 mark may offer initial support, followed by 1.0270 that should hold in order to keep immediate focus on the upside.

Support levels: 1.0300 1.0270 1.0240

Resistance levels:  1.0355 1.0370 1.0400

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