EUR/USD Current price: 1.2853
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The relief rally that started the week failed to hold above 1.30 and the market started dumping EUR/USD during the European session into the US session, dragging it back below 1.29. With a break to a new low on the month, the EUR/USd now has the next key support levels in the 1.2660-1.2680 area in sight.
Support Levels:1.2555, 1.2691, 1.2774
Resistance Levels: 1.2993, 1.3129,1.3212
GBP/USD Current price: 1.5175
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The GBP/USD retreated slightly from the falling 2013 trendline. At this point, a break below 1.5060 could neutralize the short-term bullish outlook. Otherwise, if GBP/USD can extend above the trendline, the 1.5321 pivot and then the 1.5407-1.5425, 38.2% retracement area could be the next targets for the current bullish correction attempt.
Support Levels: 1.5011, 1.5076, 1.5126
Resistance Levels: 1.5241 , 1.5306, 1.5356
USD/JPY Current price: 94.17
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The USD/JPY dipped below last week’s low of 94.06 as well as 94.00, but still has a rising trendline going back to November to break before it can neutralize the bullish outlook. Holding below 94.50 will likely keep the near-term mode bearish with the 90.85 February low in sight below the TL. A rally above 95.00 would likely revive the bullish outlook.
Support Levels: 91.87, 92.69, 93.31
Resistance Levels: 94.75, 95.57, 96.19
AUD/USD: Current price: 1.0460
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The AUD/USD edged up higher, and tagged the 1.0475 pivot before retreating. At this point, a return back below 1.04 would also clear a rising trendline from March and neutralize this month’s bullish outlook. Otherwise, an extension above 1.05 opens up 1.0580-1.06 area, which would be a key range resistance area.
Support Levels: 1.0388, 1.0409, 1.0435
Resistance Levels: 1.0482, 1.0503, 1.0529
EUR/USD: Next key support levels in the 1.2660-1.2680 area
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