EUR/USD Current price: 1.0772
View Live Chart for the EUR/USD
The EUR/USD pair trades at fresh daily highs in the 1.0770 region, recovering from a daily low of 1.0665, reached after weaker-than-expected European Markit Services and Manufacturing readings. There was no catalyst behind the latest recovery, but probably some profit taking around the base of this week range, as the pair is unable to set a clear directional move. US weekly unemployment claims grew to 295K last week, keeping the greenback under pressure. Short term, the 1 hour chart shows that the price recovered above its moving averages that anyway remain horizontal, and extended above a daily descendant trend line coming from this month high of 1.1034. In the same chart, the technical indicators maintain a bullish tone in positive territory, supporting some additional advances up to 1.0800, yesterday's high. In the 4 hours chart the technical indicators head strongly higher above their mid-lines, supporting the shorter term view.
Support levels: 1.0760 1.0730 1.0700
Resistance levels: 1.0800 1.0845 1.0880
GBP/USD Current price: 1.5028
View Live Chart for the GBP/USD
The GBP/USD pair firms above the 1.5000 level after a short-lived deep to 1.4959 on the back of weaker UK Retail Sales in March, due to falling fuel sales. The 1 hour chart shows however, presents a bearish technical tone, as the price moves back and forth around a flat 20 SMA, whilst the technical indicators are retracing from their mid-lines, and gaining bearish slope. In the 4 hours chart, the price held above its moving averages, whilst the technical indicators head higher in positive territory, all of which suggest the pair can extend its advance un to the 1.5100 price zone.
Support levels: 1.5000 1.4970 1.4930
Resistance levels: 1.5050 1.5110 1.5165
USD/JPY Current price: 120.00
View Live Chart for the USD/JPY
The USD/JPY pair struggles to regain the 120.00 level, having set a daily high at 120.08 so far today. The short term picture shows that the price extended further above its moving averages, with the 100 SMA about to cross the 200 SMA to the upside, albeit the technical indicators lack directional strength at the time being. In the 4 hours chart the pair is finding intraday resistance in a flat 200 SMA, whilst the Momentum indicator is losing upward strength, but holding in positive territory, whilst the RSI indicator aims higher around 62. A price acceleration through the daily high should favor additional advances towards 120.85, a strong static resistance level.
Support levels: 119.60 119.20 118.90
Resistance levels: 120.10 120.50 120.85
AUD/USD Current price: 0.7724
View Live Chart for the AUD/USD
The AUD/USD pair trades lower in range, finding so far short term buying interest in the 0.7700/10 region. Technically, the pair presents a bearish tone, as the 1 hour chart shows that the price develops below a bearish 20 SMA, whilst the technical indicators head lower below their mid-lines. In the 4 hours chart the 20 SMA capped the upside and maintains a bearish tone around 0.7740 now, whilst the technical indicators maintain a neutral stance. Also, the price holds a few pips above its 200 EMA, which so far limits the downside. Nevertheless, a break below the mentioned 0.7705 price zone, should lead to a steadier decline, regardless of dollar's weakness against its European rivals.
Support levels: 0.7705 0.7665 0.7620
Resistance levels: 0.7740 0.7770 0.7800
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.