View Live Chart for the EUR/USD
Euro gaps to the upside with the weekly opening with not much behind the movement, but the usual thin volume. The pair maintains its range, and the short term upward momentum sees price still below 1.3075 area, which stands as immediate resistance ahead of stronger Fibonacci level at 1.3115. Technical readings present a slightly bullish tone, both in 1 and 4 hours charts, although latest range will likely see sellers appearing on approaches to 1.3080/1.3115 area.
Support levels: 1.3040 1.3000 1.2970
Resistance levels: 1.3075 1.3115 1.3150
View Live Chart for the EUR/JPY (select the currency)
Yen holds to recent strength against most rivals, with EUR/JPY gaining bearish scope, as the pair trades again below 100 and 200 SMA’s in the hourly chart, both converging around 129.10. Indicators in the mentioned time frame hold in negative territory, which suggest sellers remain in control. In bigger time frames technical readings also head lower below their midlines, adding to the shorter term outlook: Friday’s low of 127.12 comes as immediate support, and once below, there’s scope for a test of 125.00 area later this week.
Support levels: 127.10 126.60 126.20
Resistance levels: 127.90 128.40 129.00
View Live Chart for the GBP/USD (select the currency)
The GBP/USD maintains the bullish tone triggered last week by better than expected UK GDP, trading near the highs set so far at 1.5490. The hourly chart shows price holding above 20 SMA and indicators in positive territory, yet with not much strength at the time being. In the 4 hours chart indicators head higher despite in overbought territory, pointing for more gains ahead; key support comes at 1.5420, 38.2% retracement of its latest daily fall: as long as above the level, the upside is favored towards 1.5600.
Support levels: 1.5450 1.5420 1.5370
Resistance levels: 1.5490 1.5540 1.5585
View Live Chart for the USD/JPY (select the currency)
The USD/JPY trades near Friday’s low as another rejection from the 100.00 level has discouraged buyers, and rushed profit taking. A deeper downside corrective movement may come with a break below 97.20, still far from market price, yet possible for today. The hourly chart shows price below moving averages and indicators flat in negative territory, while bigger time frames show an increasing bearish momentum that supports the bearish bias. Price needs to recover at least above 98.80, quite unlikely for today, to erase the negative tone and be able to reattempt a test of 100.00.
Support levels: 97.50 97.20 96.80
Resistance levels: 98.20 98.60 99.10
View Live Chart for the AUD/USD (select the currency)
Aussie still looks bearish against its American rival, with the AUD/USD hourly chart showing price retracing from a bearish 20 SMA and indicators holding in negative territory. While the pair has managed to bounce from past week low around 1.0220, selling interest surged in the strong 1.0335 static resistance level, and as long as below it, bears will remain in control. In the 4 hours chart technical readings turned neutral, with price hovering around a flat 20 SMA and indicators around their midlines: steady losses below 1.0260 is what it takes to see the trend gaining momentum in the short term.
Support levels: 1.0260 1.0220 1.0180
Resistance levels: 1.0300 1.0335 1.0370
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