View Live Chart for the EUR/USD
Action this Monday came from commodities and stocks, as the day started with oil and gold falling hard on Chinese disappointing GBP. Gold plunged to a two-year low, the biggest one-day selloff in decades towards $ 1355/oz, as risk aversion accelerated late US session, when at least 3 bombs exploded in Boston in what’s suspected to be a terrorist attack. US indexes closed in red, with DJIA losing over 250 points and S&P closing 2.3%; the movement that started before the attacks extended with the news, and leads for more risk off this Tuesday.
The EUR/USD fell as low as 1.3020 before bouncing, but the overall bias has turned negative as the pair broke below the 1.3040 mark and struggles now to regain it. For the short term, the hourly chart shows indicators still heading downward into negative territory while 20 SMA, gains bearish slope above current price. In the 4 hours chart technical readings also turned lower, supporting further slides along with latest failure at key 1.3115, 38.2% retracement of the latest daily fall; 1.3020 stands as immediate support yet lose of the 1.2970 area should signal a return of the bears, with 1.2880 then at sight.
Support levels: 1.3020 1.2970 1.2920
Resistance levels: 1.3070 1.3115 1.3150
View Live Chart for the EUR/JPY (select the currency)
Japanese Yen upward momentum extended with the sad news, with the EUR/JPY losing nearly 400 pips in the last 24 hours. The pair touched 124.86 before regaining some ground back above 126.26, although the pair remains under selling pressure, as indicators continue heading lower in negative territory in the hourly chart while price broke below 100 and 200 SMA, first time since April 8th. The 4 hours chart shows an even stronger bearish momentum, and more slides are to be expected up to 123.60 area, as long as the upside remains capped by 126.70/127.00 now.
Support levels: 125.60 124.80 124.10
Resistance levels: 126.70 127.20 127.80
View Live Chart for the GBP/USD (select the currency)
The GBP/USD trades below the 1.5300 mark although still quite close to the level, after testing 1.5268. The pair enters Asian session with a strong bearish tone, as the hourly charts shows 20 SMA gaining bearish slope above current price and indicators down into negative territory, while in the 4 hours chart momentum head strongly south in negative territory, as price approaches 200 EMA, currently flat around 1.5260 an immediate support. A break below this last should favor a downward acceleration, with 1.5195, 23.6% retracement of the latest daily fall as next bearish target.
Support levels: 1.5260 1.5220 1.5195
Resistance levels: 1.5300 1.5330 1.5360
View Live Chart for the USD/JPY (select the currency)
The USD/JPY reached 95.77 before bouncing higher yet the bias has turned negative for the pair, as the hourly chart shows indicators still heading lower in negative territory, and price well below moving averages. Should the pair recover, selling interest may surge on approaches to 97.50 area, while renewed selling pressure below 96.30 should now expose the pair to further slides, with 95.30 then at sight for today.
Support levels: 96.30 95.80 95.30
Resistance levels: 97.00 97.50 97.90
View Live Chart for the AUD/USD (select the currency)
The AUD/USD got in on the chin with gold falling big, reaching a daily low if 1.0298 before correcting higher. Extremely oversold according to the hourly chart, current recovery may extend up to 1.0380 where further definitions will be seen as if price manages to regain the level, then bulls will likely regain control and push the pair higher towards 1.0440. Failure to overcome 1.0380 area on the other hand, will signal further slides for the pair, with 1.260 strong midterm support level then at sight.
Support levels: 1.0290 1.0260 1.0220
Resistance levels: 1.0380 1.0440 1.0470
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