EUR/USD Current price: 1.3395
View Live Chart for the EUR/USD
Dollar trades lower across the board and despite weak early European data, short term affected by US weekly unemployment claims that rose up to 311K for the week ending Aug 8th. The EUR/USD trades near its daily high of 1.3403, and with the hourly chart showing price advancing above its moving averages while indicators head north in positive territory, supporting the upward strength. In the 4 hours chart price advances above its 20 SMA that remains flat around 1.3370, while momentum grinds higher above its midline, supporting the shorter term view.
Support levels: 1.3370 1.3330 1.3295
Resistance levels: 1.3400 1.3440 1.3485
GBP/USD Current price: 1.6689
View Live Chart for the GBP/USD
The GBP/USD bounces from a fresh multi-month low of 1.6657, but shows little follow through, and maintain the overall negative stance, as the hourly chart shows indicators corrected all of the extreme oversold readings and momentum even reached its midline, while price barely advanced a few pips. In the 4 hours chart indicators hold in oversold levels, with RSI turning back south, diminishing chances of an upward correction, while 20 SMA stands at 1.6760 offering ultimate intraday resistance.
Support levels: 1.6650 1.6620 1.6580
Resistance levels: 1.6695 1.6730 1.6760
USD/JPY Current price: 102.36
View Live Chart for the USD/JPY
The USD/JPY remains mute, having however posted a higher high daily basis of 102.65. The hourly chart shows indicators crossing their midlines down but with no actual strength, as price finds support in its 200 SMA, currently at 102.30. 100 SMA in the same time frame grinds higher approaching 200 one, which should help limit the downside. In the 4 hours chart indicators turned south but hold above their midlines, while moving averages maintain their bullish slopes below current price, also keeping the downside contained.
Support levels: 102.30 101.95 101.60
Resistance levels: 102.80 103.10 103.45
AUD/USD Current price: 0.9318
View Live Chart for the AUD/USD
Australian dollar maintains the positive tone, with the AUD/USD holding above the 0.9300 mark, but still unable to break clearly above 0.9330 strong static resistance level. The hourly chart shows 20 SMA around the 0.9300 figure, offering some intraday support while indicators stand in positive territory, albeit lacking clear strength. In the 4 hours chart the technical picture is also positive but with a limited upward momentum, supporting the need of a clear break above mentioned resistance before a new leg up.
Support levels: 0.9300 0.9260 0.9220
Resistance levels: 0.9330 0.9370 0.9410
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.