EUR/USD Current price: 1.2907


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The EUR/USD walked back the gains from the 3/20 relief rally and traded around 1.29 at the end of the 3/21 session. It has been consolidating since starting the week with a dip. At this point, a break above 1.2995-1.30 would form a inverse head and shoulders pattern in the 1H time-frame, and neutralize th bearish outlook in the near-term. A hold below 1.29 would maintain the bearish outlook.


Support Levels: 1.2792, 1.2835, 1.2867          
Resistance Levels: 1.2942, 1.2985, 1.3017          


    


GBP/USD Current price: 1.5181


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The GBP/USD posted gains but stalled in the US session after hitting 1.5208. There is a resistance pivot at 1.5220, a break above which opens up 1.5321 and would continue to show a bottom forming against the 2013 downtrend. Otherwise, a break below the 1.5025 week-low should revive the bearish outlook.


Support Levels: 1.4990, 1.5041, 1.5107          
Resistance Levels: 1.5224, 1.5275, 1.5341


  


USD/JPY Current price: 95.04


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USD/JPY retreated after the 3/20 session rally. The market appears to be consolidating as the new BoJ chief Kuroda steps in, but has not broken the overall bullish trend. It will need to clear below this week’s low and the 94.00 handle as well as the rising trendline from November to signal a bearish outlook. Otherwise, the focus remains on the 96.70 2013-high, and then the 2009-high at 101.43.


Support Levels: 92.91, 93.73, 94.38          
Resistance Levels: 95.85, 96.67, 97.32


              


AUD/USD: Current price: 1.0430


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The AUD/USD broke above 1.0413, putting the focus the next resistance in the 1.0475-1.05 area, which includes previous support/resistance pivots and the 78.6% retracement of the 2013 decline. A break below the recent 1.0336-1.0340 low would also clear a rising trendline from March and put the focus back toward the 1.02 handle and possibly lower.


Support Levels: 1.0283, 1.0322, 1.0378          
Resistance Levels: 1.0473, 1.0512, 1.0568


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