Currency Majors Technical Perspective

EUR/USD resistance at 1.3300 suppress any bullish momentum

Thu, Dec 27 2012, 03:37 GMT
by Richard C. Lee | FXstreet.com

EUR/USD Current price: 1.3232

Resistance at 1.3300 continues to suppress any bullish momentum as the EURUSD pair consolidates. Failure to rise above the figure would prompt a decline to initial support at 1.3165. Further penetration lower would shift focus to 1.3119.

Support Levels 1.3089 1.3130 1.3175

Resistance Levels 1.3261 1.3302 1.3347

GBP/USD Current price: 1.6136

View Live Chart for the GBP/USD (Select the currency)

GBPUSD found support at 1.6095 in the session, lending to a bullish push higher towards 1.6200 resistance. However, momentum remains questionable at this juncture, with the 1.6174 November 1st high likely to dampen an advance.

Support Levels 1.6038 1.6073 1.6102

Resistance Levels 1.6166 1.6201 1.6230

USD/JPY Current price: 85.81

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

Resistance via the 84.62 figure was broken to the upside, lending to a break of the 85.50 psychological figure on the session. However, resistance at 86.00, which is being reinforced by the psychological 86.25 round figure, should lend to a bearish push lower. Initial support is seen at the 85.00 figure.

Support Levels 83.99 84.36 84.99

Resistance Levels 86.00 86.37 87.00

AUD/USD Current price: 1.0369

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

Establishing temporary support at 1.0344, AUDUSD continues to keep a bearish bias in the short term. Resistance via the 1.0438 figure continues to weigh on any upside retracement in the pair, supporting the likelihood of a dip to 1.0286 November 16th session low.

Support Levels 1.0308 1.0326 1.0351

Resistance Levels 1.0394 1.0412 1.0437

New to Forex? Visit our Glossary!

Today's new term, Oops! Pattern.

Published On Thu, Dec 27 2012, 03:45 GMT Previous entries

Richard C. Lee

Follow Follow my activity on FXstreet.com FXstreet.com website

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.

More articles by this author

Also Read

EUR/USD: Daily H&S pattern about to be triggered
FXstreet.com
Giddy Up! New Highs for the Dollar
BK Asset Management
EUR/USD Breaks down Consolidation Support and a Rising Trendline
FXTimes
USD/CAD Breaks a Falling Trendline to Attack the 2013 Highs
FXTimes

Advertisement

Legal disclaimer and risk disclosure

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.