EUR/USD Current price: 1.3345
View Live Chart for the EUR/USD
The EUR/USD traded slightly higher after ECB latest policy meeting, where Super Mario reaffirmed the Central Bank will use any tool at its disposal to fight the economic slowdown. A small change in wording, omitting that rates can be lower than current, helped the EUR temporarily up,yet unable to advance beyond 1.3400 and falling strongly with US opening. The hourly chart shows price tested the roof of a daily descendant channel at 1.3933 before retracing with price breaking below its 20 SMA and indicators gaining bearish potential. In the 4 hours chart, technical readings are still bearish with a break below 1.3335 required to see a new leg lower towards 1.3295.
Support levels: 1.3335 1.3295 1.3250
Resistance levels: 1.3400 1.3440 1.3475
GBP/USD Current price: 1.6829
View Live Chart for the GBP/USD
BoE meeting as usual ended being a no-event for markets, albeit GBP is down against the greenback: the pair trades a few pips above 1.6822 daily low, with the hourly chart showing price below its 20 SMA and indicators heading lower in negative territory, supporting a test of 1.6800. In the 4 hours chart the picture is pretty much the same, with 20 SMA capping the upside around 1.6860 and indicators headed south: a break below mentioned low should lead to a quick test of 1.6770, in route to 1.6730 stronger support.
Support levels: 1.6800 1.6770 1.6730
Resistance levels: 1.6860 1.6895 1.6940
USD/JPY Current price: 102.35
View Live Chart for the USD/JPY
The USD/JPY grinds slowly higher, helped by the positive tone in US stocks and better than expected unemployment readings. Nevertheless, the hourly chart shows 100 and 200 SMAs converging in the 102.50 price zone, offering immediate resistance, while indicators support the upside as per bouncing from their midlines. In the 4 hours chart indicators advance some but remain below their midlines, with price action supporting some upward continuation, firmer with a break above mentioned resistance zone.
Support levels: 102.25 101.95 101.60
Resistance levels: 102.50 102.80 103.10
AUD/USD Current price: 0.9269
View Live Chart for the AUD/USD
Australian dollar trades near its daily low of 0.9262 against the greenback, weighted by negative Australian employment data published past Asian session. The hourly chart shows 20 SMA with a strong bearish slope above current price and indicators saturating in oversold levels. In the 4 hours chart indicators lost downward potential in negative territory, with 20 SMA also well above current price, favoring the shorter term view.
Support levels: 0.9260 0.9220 0.9180
Resistance levels: 0.9300 .9330 0.9370
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.