EUR/USD Current price: 1.3177
View Live Chart for the EUR/USD
Once again, the EUR/USD retreated from the 1.3210/20 price zone, under pressure early US session after better than expected GDP numbers, revised up to 4.2%. Earlier on the day, safe havens got a boost from news Russia invaded Ukraine, but the movements across the board remain shallow, with majors within latest ranges. Technically, the hourly chart for EUR/USD shows an increasing bearish potential, with indicators heading strongly down into negative territory and price below 20 SMA. In the 4 hours chart price continues to hover back and forth around a flat 20 SMA, with indicators turning lower in neutral territory. A break below 1.3150 should see the pair extending its decline towards the 1.3100 price zone, albeit market is expected to remain on hold, ahead of tomorrow EZ inflation data, and next week Central Bank meeting.
Support levels: 1.3150 1.3120 1.3090
Resistance levels: 1.3215 1.3240 1.3280
GBP/USD Current price: 1.6578
View Live Chart for the GBP/USD
The GBP/USD daily advance stalled at 1.6604, with the pair back to its comfort zone around 1.6570/80 where it stood for most of this week. The hourly chart shows price right below its 20 SMA but indicators still hovering around their midlines, lacking clear direction. In the 4 hours chart the technical picture is also neutral, with some steady advance either above 1.6600 or below 1.6540 required to trigger a clearer directional move.
Support levels: 1.6540 1.6490 1.6465
Resistance levels: 1.6600 1.6630 1.6660
USD/JPY Current price: 103.73
View Live Chart for the USD/JPY
The USD/JPY sees some downward pressure on risk aversion, but the pair found intraday demand at its 200 SMA in the hourly chart currently at 103.55, but remains below 100 one and indicators lose upward potential in negative territory. In the 4 hours chart the technical picture is bearish, with indicators heading south below their midlines, supporting another leg lower in the short term, moreover if local share markets remain under pressure.
Support levels: 103.55 103.20 102.85
Resistance levels: 104.20 104.50 104.80
AUD/USD Current price: 0.9356
View Live Chart for the AUD/USD
The AUD/USD reached 0.9373 before pulling back, maintaining however a mild bullish tone, as per price steady above 0.9330 immediate support and the hourly chart showing price finding short term support in a mild bullish 20 SMA and indicators in positive territory. In the 4 hours chart indicators are getting exhausted to the upside near overbought levels, yet a downward correction will be subdue to a break below mentioned 0.9330 strong static support.
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9450
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.