EUR/USD Current price: 1.3184
View Live Chart for the EUR/USDSo at the last minute possible, the US lawmakers avoided the fiscal cliff. Markets opened after the long holidays in full risk-appetite mode, driving dollar strongly down across the board, as stocks soared along with commodities: S&P and the DJIA closed with over 2% gains. The EUR/USD halted however a few pips shy of 1.3300, as market players had second toughs following news the US may be actually downgraded after the band-aid solution voted by Congress, and fell back to a daily low of 1.3155, entering Asian session looking heavy in the hourly chart, with price near the bottom of recent range and indicators in negative territory. The 1.3140/50 area comes as a strong static support and a break below, will likely open doors for further slides in the common currency, although if market sentiment remains strong, a recovery above 1.3200/10 may see the pair reaching again 1.3250 price zone.
Support levels: 1.3140 1.3100 1.3070
Resistance levels: 1.3210 1.3250 1.3290
GBP/USD Current price: 1.6254
View Live Chart for the GBP/USD (select the currency)The GBP/USD extended to 1.6381 today, overcoming 2012 high yet quickly retracing its gains, finding buyers in the 1.6220 price zone. The hourly chart shows price aiming to recover and approaching a bearish 20 SMA as indicators also aim higher still in negative territory. In the 4 hours chart however, technical readings hold a stronger bullish tone after price bounced higher from a bullish 20 SMA while indicators corrected extreme overbought readings and turned back north: the upside remains favored as long as price stands above 1.6175, with scope for a retest of mentioned high.
Support levels: 1.6220 1.6175 1.6140
Resistance levels: 1.6270 1.6310 1.6380
USD/JPY Current price: 87.33
View Live Chart for the USD/JPY (select the currency)The USD/JPY never turned back continuing with the bullish trend set early November to fresh highs at current levels, not seen since July 2010. The hourly chart shows indicators aiming slightly higher yet in neutral territory, while in bigger time frames the upward momentum is quite stronger, supporting further gains in the pair. Daily chart shows indicators in overbought territory but still heading higher, while 100 SMA overcomes 200 one first time since late August 2012: still expecting corrective movements to be limited ahead of a continued advance towards 90.00.
Support levels: 87.07 86.60 86.25
Resistance levels: 87.60 87.95 88.40
AUD/USD: Current price: 1.0497
View Live Chart for the AUD/USD (select the currency)Despite the impressive intraday rally, the AUD/USD was unable to sustain gains beyond the 1.0500 level, consolidating around it as Asia comes to play. The short term technical outlook however, remains bullish for the pair according to the hourly chart, as indicators bounced from their midlines and price from 20 SMA, currently around 1.0485 acting as immediate support. The 4 hours chart shows indicators in overbought territory still heading higher, although price needs to settle above 1.0520 area to confirm further gains with 1.0600 now at sight.
Support levels: 1.0485 1.0440 1.0400
Resistance levels: 1.0520 1.0550 1.0600
New to Forex? Visit our Glossary!
Recommended Content
Editors’ Picks
AUD/USD post moderate gains on solid US data, weak Aussie PMI
The Australian Dollar registered solid gains of 0.65% against the US Dollar on Thursday, courtesy of an upbeat market mood amid solid economic data from the United States. However, the Federal Reserve’s latest monetary policy decision is still weighing on the Greenback. The AUD/USD trades at 0.6567.
EUR/USD recovers to top end of consolidation ahead of Friday’s US NFP
EUR/USD drove back to the top end of recent consolidation on Thursday, recovering chart territory north of the 1.0700 handle as market risk appetite regains balance heading into another US Nonfarm Payrolls Friday.
Gold recoils on hawkish Fed moves, unfazed by dropping yields and softer US Dollar
Gold price clings to the $2,300 figure in the mid-North American session on Thursday amid an upbeat market sentiment, falling US Treasury yields, and a softer US Dollar. Traders are still digesting Wednesday’s Federal Reserve decision to hold rates unchanged.
High hopes rouse for TON coin with Pantera as its latest investor
Ton blockchain could see more growth in the coming months after investment firm Pantera Capital announced a recent investment in the Layer-one blockchain, as disclosed in a blog post on Thursday.
NFP: The ultimate litmus test for doves vs. hawks
US Nonfarm Payrolls will undoubtedly be the focal point of upcoming data releases. The estimated figure stands at 241k, notably lower than the robust 303k reported in the previous release and below all other readings recorded this year.