EUR/USD Current price: 1.2708
View Live Chart for the EUR/USD
Ahead of Asian opening, early interbank quotes show market is little changed from Friday’s New York close, with the dollar poised to extend its advance, particularly against European rivals. The EUR/USD looks heavy after closing past week below the 1.2740 area, 38.2% retracement of its daily run from 1.2040 to 1.3170 also past June high. Greece remains on the eye of the storm, as the troubled country will likely delay payments due this week, waiting for a new aid package, that will be received is Parliament approves 2013 budget. Technical readings for the EUR/USD in the 4 hours chart shows indicators in negative territory, losing some of its latest bearish momentum, while price stands capped below 20 SMA. Having tested 1.2689 on Friday, break below that level would open doors for a test of next Fibo support around 1.2610.
Support levels: 1.2690 1.2650 1.2610
Resistance levels: 1.2740 1.2785 1.2810
GBP/USD Current price: 1.5894
View Live Chart for the GBP/USD (select the currency)
The GBP/USD approaches the base of a descendant channel coming from 1.6308, today around 1.5860 and immediate support. Repeated failure around 1.6000 has finally ended up with bulls’ interest, leaving the pair quoting at levels not seen since early September. The 4 hours chart shows bearish trend still strong, with indicators turning flat near oversold levels; however, a break below mentioned base of the channel, will likely favor a downward continuation, looking then for 1.5770 strong midterm static support area. Price needs to advance and consolidate above 1.5950 to erase the intraday bearish tone and attempt a retest of the 1.60 area.
Support levels: 1.5890 1.5860 1.5830
Resistance levels: 1.5910 1.5950 1.6000
USD/JPY Current price: 79.48
View Live Chart for the USD/JPY (select the currency)
Yen advanced last week against most rivals, yet found sellers against the dollar right above the 79.00 area. Bounce however, was not enough to overcome 200 DMA currently around 79.60, acting as immediate resistance level. Technical readings for intraday time frames show indicators correcting from oversold levels, still in deep red. An advance above 79.60 may give buyers some courage to attempt to drive the pair back towards 80.00, although failure around it will expose again 79.00 price zone. 100 DMA around 78.80 is the last barrier of latest upward trend.
Support levels: 79.10 78.80 78.35
Resistance levels: 79.50 79.80 80.00
AUD/USD: Current price: 1.0384
View Live Chart for the AUD/USD (select the currency)
Australian dollar holds to its bullish trend against the greenback, as the pair stands above a daily ascendant trend line coming from 1.0150 low from early October, currently around 1.0360 and immediate support. Latest macro data points for a much better economic situation than estimated a couple months ago, making of AUD and attractive currency these days. Short term bearish, the pair may extend its slide once below the trend line, towards the strong static support level around 1.0330; only an extension below this last will jeopardize the existing bullish tone and expose 1.0270 area in the short term. Back above 1.0410, the upward momentum will resurge, with scope for and advance towards 1.0500 area.
Support levels: 1.0360 1.0335 1.0300
Resistance levels: 1.0410 1.0445 1.0480
New to Forex? Visit our 
