EUR/USD Current price: 1.2998


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Not only stocks are falling, but also fundamental data disappoints around Europe, with market pricing in economic policy adjustments for the BOE and the ECB next week. The fact that the US sequester, an automatic spending cut of $1.2 trillion in across-the-board government spending cuts, goes into effect today only fuels risk aversion, and the dollar comes as the overall winner in this last day of the week. 



The EUR/USD trades below 1.3000, and the bearish momentum seems just kick-starting: the pair reached a fresh 2013 low of 1.2985 and remains unable to regain the 1.30 mark. The hourly chart shows indicators heading lower, with RSI accelerating below 30 and 20 SMA gaining bearish slope above current price, limiting the upside around 1.3050. In the 4 hours chart, the bearish tone persists, with loads of room to fall, once 1.2980 gives up, with next big support 100 pips below around 1.2880.



Support levels: 1.2980 1.2940 1.2900



Resistance levels: 1.3010 1.3050 1.3090 



GBP/USD Current price: 1.5023




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The GBP/USD nose-dive on UK manufacturing and lending figures, reaching a low of 1.5011, levels not seen since July 2010. After the break of its latest range, the pair has been steadily consolidating in a 40 pips range, and despite indicators in the hourly chart aim to correct from extreme oversold levels, price shows no follow trough.  In the 4 hours chart, the bearish momentum is quite strong ahead of the US opening, supporting further slides. The base of these last days’ range around 1.5070 will now attract selling interest, acting as immediate resistance level. As long as below this last, the downside remains open towards the 1.4920 area.



Support levels: 1.5010 1.4960 1.4920



Resistance levels: 1.5070 1.5115 1.5160



USD/JPY Current price: 92.78


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The USD/JPY advanced further over Asian hours, reaching 93.02 so far in the day, although the hourly chart shows not enough bullish momentum: 200 SMA caps the upside, while indicators stand neutral, around their midlines. The upside remains tough for the pair as we enter March, the close of the Japanese fiscal year that usually sees yen repatriation. Selling on spikes now looks better than buying on dips, as long as price remains below the 93.40/60 price one.



Support levels: 92.30 92.00 91.60 



Resistance levels:  93.10 93.40 93.80



AUD/USD: Current price: 1.0206


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The AUD/USD remains under pressure, although the 1.0180 level continues to limit slide. The pair bounces higher following gold that recovered around 15 bucks in the last hour. The hourly chart shows price still below 1.0220 static resistance area, converging in the chart with a strongly bearish 20 SMA, while indicators hold in negative territory. In the 4 hours chart the dominant trend remains clearly bearish, with a break and a weekly close below 1.0180 opening doors for an approach to parity next week. 



Support levels:  1.0180 1.0150 1.0110



Resistance levels: 1.0220 1.0270 1.0300 



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