EUR/USD Current price: 1.3351

View Live Chart for the EUR/USD

The EUR/USD edged slightly lower on Friday (2/15), but is also settling between 1.33 and 1.34 in the very short-term. A break below 1.33 continues the current bearish correction, with room to 1.3255 support, as well as a rising trendline that goes back to July 2012 when the bullish trend started. A break below 1.3150 is likely needed to extend the bearish scenario beyond a correction. To the upside, a push above 1.34 can neutralize the bearish outlook, but a push above 1.35 is probably needed before opening up any bullish outlook.

Support Levels: 1.3226 1.3265 1.3313          

Resistance Levels: 1.3400 1.3439 1.3487          

   

GBP/USD Current price: 1.5499

View Live Chart for the GBP/USD (select the currency)

The GBP/USD reached the 1.55 handle, 78.6% retracement level as anticipated and stablized a bit on Friday (2/15). There could be some reaction here, but there is still more room until key support in the 1.5250-1.5260 area. A bullish pullback is possible, but a break from a consolidation to the upside can make a stronger case since this upside outlook is against the trend since Dec.

Support Levels: 1.5377 1.5418 1.5466          

Resistance Levels: 1.5555 1.5596 1.5644          

  

USD/JPY Current price: 93.87

View Live Chart for the USD/JPY (select the currency)

USD/JPY had a strong reaction during Friday to its non-focus on the weakness of the JPY. A break below 92.00 remains the threshold before considering a top and further bearish correction. Otherwise, price action remains bullish with focus on the 95.00 handle and 2010-high.

Support Levels: 84.22 88.21 90.84

Resistance Levels: 97.46 101.45 104.08          

 

AUD/USD: Current price: 1.0281

View Live Chart for the AUD/USD (select the currency)

Coming off a falling channel resistance on Friday (2/15), AUD/USD keeps focus to the downside first to last week's low at 1.0226, and then below that, the 1.0150-1.0170 support area. A break above the channel and 1.0380 will be needed to neutralize the bearish outlook. In this scenario, direction will be unlcear because price would end up in the middle of a large range basically between 1.0150 and 1.06. Thus, the bullish outlook should be first monitored with conservative targeting ie. back to 1.0475 resistnace pivot.

Support Levels: 1.0183 1.0235 1.0271          

Resistance Levels: 1.0359 1.0411 1.0447

  
 

New to Forex? Visit our Glossary!