EUR/USD Current price: 1.3271
View Live Chart for the EUR/USD
Struggling around the 38.2% retracement of its latest bullish run, the EUR/USD maintains a heavy stance this Wednesday, having toped at 1.3320 area, 23.6% retracement of the same rally. Market is still pricing Junker’s words on an overvalued euro, while yen strength along with stocks weakness do the rest. For the short term, the hourly chart shows price below a bearish 20 SMA as indicators head south in negative territory; daily low so far has been set around 1.3250, so once below, the negative bias will get further confirmation, targeting then the 1.3180 area, next strong support. In the 4 hours chart technical readings show an increasing downward momentum, supporting the shorter term view.
Support levels: 1.3255 1.3220 1.3180
Resistance levels: 1.3320 1.3360 1.3400
GBP/USD Current price: 1.5988
View Live Chart for the GBP/USD (select the currency)
The GBP/USD blow trough the 1.5990 static support area, and so far failed to regain the 1.6000 psychological level. The pair presents a short term strong bearish tone, with indicators nearing oversold readings and 20 SMA gaining bearish slope above current price. In the 4 hours chart indicators head south below their midlines, accelerating lower also supporting a bearish continuation. The upside should now remain caped by 1.6120 to keep the short term downward pressure alive.
Support levels: 1.5950 1.5920 1.5880
Resistance levels: 1.6020 1.6060 1.6095
USD/JPY Current price: 88.28
View Live Chart for the USD/JPY (select the currency)
The USD/JPY extended its slide, reaching past the 61.8% retracement of its latest fall around 87.90, although bouncing slightly higher. However, the hourly chart shows price caped below 200 SMA offering dynamic resistance now around 88.30, while indicators hold in negative territory showing no aims of turning higher. In bigger time frames, indicators turned lower, with the daily chart showing RSI and Momentum still in overbought levels, yet pointing for a deeper correction. Daily close below mentioned Fibo support should expose the 86.80 area, next big support in the pair
Support levels: 87.90 87.50 87.10
Resistance levels: 88.30 88.70 89.00
AUD/USD: Current price: 1.0547
View Live Chart for the AUD/USD (select the currency)
The AUD/USD maintains past days range, although pressured lower according to the hourly chart: indicators grind lower in negative territory, while 20 SMA now caps the upside around 1.0555. The pair however, remains range bound, also reflected in the 4 hours chart that shows a technical neutral stance. Only below 1.0490 the bears will get control of the pair, with scope then for a ride towards 1.0430 price zone.
Support levels: 1.0520 1.0490 1.0450
Resistance levels: 1.0555 1.0580 1.0600
New to Forex? Visit our Glossary!
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.