Market sentiment changed quickly to risk aversion, after the ECB cur rates to 1.25%; in its first meeting as president Draghi stated that the euro area is “heading toward mild recession by year-end.” The EUR/USD fell as low as 1.3660 with hourly charts showing an increasing bearish momentum as per current candle opening below 20 SMA and indicators heading south around their midlines. Below mentioned 1.3660, pair will likely retest weekly low around 1.3600 before finding support.
Support levels: 1.3660 1.3600 1.3550
Resistance levels: 1.3710 1.3745 1.3780
Having being as high as 1.6040, Pound gave up the ground gained against greenback and trades back just above 1.5960 static support zone. The bearish momentum however, is not enough to push price below 20 SMA neither indicators below their midlines in this hourly chart. 4 hours chart shows price struggling around flat 20 SMA, with indicators still heading slightly higher. Clear break below 1.5870 is required to trigger some short term selling rallies in the GBP/USD.
Support levels: 1.5960 1.5920 1.5870
Resistance levels: 1.6040 1.6080 1.6120
Lower in range, the pair continues trading around 78.00 Fibonacci area, without showing much intraday action. Hourly indicators remain flat around their midlines, while bigger time frames also lack direction. Pair won’t be moving much until upcoming US NonFarm Payrolls this Friday.
Support levels: 77.80 77.45 77.20
Resistance levels: 78.35 78.60 79.00
With the upside still limited by recent highs around 0.8890, the USD/CHF trades also in a quite limited range. Hourly chart shows price aiming to break below a flat 20 SMA while indicators head south barely above their midlines showing no actual strength. 4 hours chart on contrary, shows an increasing bearish tone, that would help keep the upside limited and favor a retest of the 0.8770 strong support.
Support levels: 0.8800 0.8770 0.8740 0.8700
Resistance levels: 0.8850 0.8890 0.8920
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