EUR/USD Current price: 1.3427
View Live Chart for the EUR/USD
Market is slowly regaining its confidence in the EU, after past week post ECB kneejerk: yields differentials shrank today, and along with G7 statement, are supporting EUR/USD gains. However, the pair remains unable to gather upside momentum: the hourly chart shows indicators heading south back near their midlines after a daily high of 1.3465. In the 4 hours chart price stands above a still bearish 20 SMA, while indicators hover around their midlines with no clear direction at the time being. Beyond the daily high, 1.3485 is the key resistance level to follow as only above this last the pair will be able to set again a clearer bullish trend. On the downside, break below 1.3350 will open doors for a retest of the daily ascendant trend line, today around 1.3270
Support levels: 1.3410 1.3270 1.3230
Resistance levels: 1.3440 1.3485 1.3510
GBP/USD Current price: 1.5593
View Live Chart for the GBP/USD (select the currency)
The GBP/USD accelerated lower after breaking below 1.5620/30 area, the long term ascendant trend line coming from 1.3502, and even completed a pullback before resuming the downside. The hourly chart shows 20 SMA extended also below the line and holding the bearish slope while indicators head south in negative territory, all of which favors more slides. In the 4 hours chart technical picture is also bearish, with approaches now to mentioned 1.5630 area, seen as selling opportunities.
Support levels: 1.5570 1.5525 1.5490
Resistance levels: 1.5630 1.5680 1.5710
USD/JPY Current price: 93.58
View Live Chart for the USD/JPY (select the currency)
The USD/JPY eased some back below 94.00, although the dominant bullish trend remains intact. Even in the hourly chart, and despite indicators turned south in negative territory, price remains above a short term ascendant trend line currently around 93.00 and immediate support. Price may attempt a test of the level but buying around it seems the best short term strategy, as it converges with 200 SMA in the mentioned time frame. In the 4 hours chart, technical indicators remain in positive territory, with a shy bullish slope, helping keep the downside limited
Support levels: 93.00 92.70 92.40
Resistance levels: 93.80 94.10 94.45
AUD/USD: Current price: 1.0283
View Live Chart for the AUD/USD (select the currency)
The AUD/USD surges in the US session, following gold recovery from $1636/oz and positive US stocks. Short term bullish according to the hourly chart, the movement however remains corrective. While the advance can extend near 1.0330/40 static resistance level, it will be only a clear break above this last that will put the pair away from its bearish trend.
Support levels: 1.0270 1.0220 1.0170
Resistance levels: 1.0290 1.0330 1.0370
New to Forex? Visit our 
