EUR/USD Current price: 1.0763
Support levels: 1.0745 1.0700 1.0660
Resistance levels: 1.0800 1.0845 1.0890
GBP/USD Current price: 1.5090View Live Chart for the GPB/USD
The GBP/USD pair posted a daily high of 1.5114, but struggles to hold above the 1.5400 level ahead of the US opening. There were no fundamental releases in the UK this Monday, and with little ahead in the US, the pair may well remain directionless during the American session. Technically, the 1 hour chart shows that the price is now above a flat 20 SMA, whilst the technical indicators have extended from extreme oversold readings into positive territory, lacking upward momentum at the time being. In the 4 hours chart, the price remains well below a sharply bearish 20 SMA, whilst the technical indicators have corrected the extreme readings, but are regaining the downside in oversold territory, maintaining the risk towards the downside.
Support levels: 1.5080 1.5035 1.5000
Resistance levels: 1.5095 1.5130 1.5160
USD/JPY Current price: 123.51View Live Chart for the USD/JPY
Overbought, but no signs of reversing. The USD/JPY pair advanced up to 123.59 and remains nearby, holding to its latest gains and pointing to extend its advance during the upcoming sessions, given that the 1 hour chart shows that the Momentum indicator has erased all of its overbought readings down to its mid-line, from where it is now bouncing, while the RSI indicator stands flat around 70. In the same chart, the 100 SMA has advanced far above the 200 SMA, but both remain well below the current level. In the 4 hours chart the price is holding near its highs whilst the technical indicators look slightly exhausted towards the upside. Nevertheless, the upside remains favored, with a break above 123.80 opening doors for an advance towards the year high at 125.80.
Support levels: 122.80 122.50 122.20
Resistance levels: 123.35 123.80 124.25
AUD/USD Current price: 0.7057View Live Chart for the AUD/USD
The Australian dollar opened with a downward gap against its American rival, following poor Chinese trade balance data released over the weekend. The AUD/USD however, held above Friday's low of 0.7031 and advanced up to 0.7069 before retreating some. Confined in a tight range, the 1 hour chart shows that the price is above a mid bullish 20 SMA, whilst the Momentum indicator turns lower above its 100 level and the RSI indicator also turns lower but at 42, increasing the risk of a downward continuation. In the 4 hours chart, the price is well above a bearish 20 SMA, whilst the technical indicators are gaining bearish slopes below their mid-lines and after correcting oversold readings, supporting the shorter term view.
Support levels: 0.7030 0.6980 0.6940
Resistance levels: 0.7070 0.7110 0.7150
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