Overview:
Watch the video for the key trading levels for the week ahead for AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, and GBPUSD.
Last week AUDUSD, EURUSD, and GBPUSD finished positive for the week. AUDJPY, EURJPY, and GBPJPY finished down for the week. The USD weakened and the JPY significantly strengthened following the release of the FOMC Statement and US GDP figures.
AUDJPY Daily chart:
Monthly support at 90.72 and 90.29, resistance at 97.29.
Weekly support at 91.41, resistance at 95.73 and 96.87.
Daily support at 91.95, resistance at 93.68 and 93.88.
Price reversed at that 95.73 weekly resistance level forming a double top last week. Will price continue to decline and test the 91.41 weekly support level this week?
AUDUSD Daily chart:
Monthly support at 0.6826, 0.6722, and 0.6671, resistance at 0.6967 and 0.6991.
Weekly support at 0.6681, resistance at 0.7283.
Daily support at 0.6964 and 0.6874, resistance at 0.7030 and 0.7069.
Price advanced and tested the 0.7030 daily resistance level last week. Will price continue to advance and test the 0.7069 daily resistance level this week?
EURJPY Daily chart:
Monthly support at 134.12, resistance at 137.49 and 141.04.
Weekly support at 133.47, 133.14, and 132.65, resistance at 136.86 and 139.99.
Daily support at 133.91, resistance at 138.31.Price closed below the 136.83 weekly support level last week. Will price continue to decline and test the 134.12 monthly support level this week?
EURUSD Daily chart:
Monthly support at 1.0118, resistance at 1.0340.
Weekly support at 0.9904, resistance at 1.0349.
Daily support at 1.0096 and 0.9952, resistance at 1.0278 and 1.0359.
Price consolidated and formed a higher bottom on the daily chart last week. Will price advance and test the 1.0340 monthly resistance level this week?
GBPJPY Daily chart:
Monthly support at 158.21, resistance at 168.01.
Weekly support at 160.38, 159.98, and 158.06, resistance at 168.42 and 168.72.
Daily support at 161.57, resistance at 162.97, 164.64, and 166.24.
Price reversed at the 166.24 daily resistance level forming a double top last week. Will price continue to decline and test the 159.98 weekly support level this week?
GBPUSD Daily chart:
Monthly support at 1.1986 and 1.1958.
Weekly support at 1.1933 and 1.1760, resistance at 1.2155 and 1.2251.
Daily support at 1.2056, resistance at 1.2332.
Price advanced and tested the 1.2251 weekly resistance level last week. Will price continue to advance and test the 1.2332 daily resistance level this week?
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