EUR/USD, 1.3200 psychological barrier is looming over

Currency Majors Technical Perspective

EUR/USD Current price: 1.3090

Resistance via the 1.3200 psychological barrier is looming over EURUSD price action. Failure to overtake the level would prompt a decline to 1.3037 support. Conversely, should the major pair penetrate the upside barrier, it would support a move to 1.3500.

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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The technical outlook for GBPUSD remains a bit neutral, with focus being shifted to the upcoming 1.6278 resistance barrier. An upside penetration of the level would force a 1.6397 resistance test. Meanwhile, any downside is set to see formidable support via 1.6012.

Resistance: 1.6175, 1.6200 and 1.6215

Support: 1.6130, 1.6100 and 1.6165

USD/JPY Current price: 78.65

View Live Chart for the USD/JPY (select the currency)

USDJPY has extended off of the break of the 78.85 resistance barrier. The spot price now seems set to advance to subsequent resistance via the 79.50 figure. A break of the aforementioned level would open scope for a move on the 80 handle.

Resistance levels: 79.35 79.50 79.70

Support levels: 79.00 78.80 78.60

AUD/USD: Current price: 1.0338

View Live Chart for the AUD/USD (select the currency)

AUDUSD closed above resistance barriers at 1.0275 in the session. The upside violation of the barrier is indicative of an advance on the 1.0402 50% fib resistance figure.

Support levels: 1.0370 1.0350 1.0320

Resistance levels: 1.0400 1.0450 1.0500

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Published On Thu, Oct 18 2012, 05:43 GMT Previous entries

Richard C. Lee

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Richard Lee is currently a contributing analyst for FXStreet.com. Previously, Richard was a senior FX analyst for DailyFX.com and featured on Yahoo! Finance and Bloomberg. He draws from more than a decade of financial experience in several different asset classes - with emphasis in foreign exchange and equities.

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