EUR/USD break above 1.3400 or below 1.3282 required

Currency Majors Technical Perspective

EUR/USD Current price: 1.3313

Finding some support via the 1.3282 figure, EURUSD remains consolidating in the near term. A break above resistance at 1.3400, or below 1.3282 support is required to establish directional bias.

Support Levels 1.3268 1.3221 1.3177

Resistance Levels 1.3359 1.3403 1.3450

GBP/USD Current price: 1.5835

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

GBPUSD is currently finding support via the1.5800 figure, lending some credence to an upside move. Any retracement is likely to seek out resistance via 1.5931. Subsequent downside breaks will open scope for a decline to 1.5700.

Support Levels 1.5799 1.5754 1.5706

Resistance Levels 1.5892 1.5940 1.5985

USD/JPY Current price: 88.74

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

Finding support via the 87.97 figure, the USDJPY remains well below broken resistance of 89.00. Failure to break back above the figure would prompt a decline towards 87.00 in the near term.

Support Levels 88.23 87.77 87.48

Resistance Levels 88.98 89.27 89.73

AUD/USD Current price: 1.0543

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

Failing to rise above the 1.0582 resistance barrier, AUDUSD near term prospects remain bearish. Initial support at 1.0500, as a result, is now being eyed. Subsequent penetration below the figure would activate support via the 1.0487 figure.

Support Levels 1.0527 1.0502 1.0477

Resistance Levels 1.0577 1.0602 1.0627

New to Forex? Visit our Glossary!

Today's new term, Oops! Pattern.

Published On Thu, Jan 24 2013, 02:49 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

Forex - Chart AUD/USD Update: Thu bounce unwinding; watch .9650
FXMarketAlerts
Technical Daily Analysis (Fri, May 24 2013)
ProAct Traders
GBP/USD Trading at Falling Channel Resistance
FXTimes
Gold Trying to Build Base as Retail Demand Counters More ETF Selling
BullionVault.com

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.