EUR/USD Current price: 1.3418
The EUR/USD posted gains today on the back of improving ZEW Sentiment data form the Eurozone and Germany. It ended the 2/19 session in an attempt to break above the 1.34 range resistance. A break above this in the 2/20 session can open up the 1.35 handle, which is near a previous resistance pivot as well as a range breakout projection. Otherwise, falling back below the middle, 1.3350, would keep the EUR/USD in bearish stance.
Support Levels: 1.3250 1.3288 1.3318
Resistance Levels: 1.3386 1.3424 1.3454
GBP/USD Current price: 1.5432
There is no relief for the bearish GBP/USD just yet. As noted in previous reports, below the 1.55 handle, there was still more room to 1.5250-1.5260 before finding a key support area. At this point a return above 1.55 would suggest some correction pullback.
Support Levels: 1.5303 1.5359 1.5392
Resistance Levels: 1.5481 1.5537 1.5570
USD/JPY Current price: 93.65
Another tight day in USD/JPY trading. It edged lower, but closed the 2/19 session near where it started. The bullish trend seems to be tapering off, although the focus remains on the 95.00 handle, 2010-high. As noted before, a break below 92.00 remains the threshold before top is formed to suggest a bearish correction.
Support Levels: 92.72 93.00 93.35
Resistance Levels: 93.98 94.26 94.61
AUD/USD: Current price: 1.0341
AUD/USD is starting to challenge the 2013 bearish trend as price rallies and breaks a falling trendline. A rally above the previous 1.0374 high - 1.0380 opens up the 1.0476 resistance pivot. This move would neutralize AUD/USD as it would be trading in the middle of a range since July 2012 roughly between 1.0150 adn 1.06. Failure to push above 1.0380, and a return below 1.0225 returns the focus on the 1.0150-1.0165 support area.
Support Levels: 1.0244 1.0272 1.0309
Resistance Levels: 1.0374 1.0402 1.0439