EUR/USD Current price: 1.2824
View Live Chart for the EUR/USD
EUR/USD rebounded during the 3/28 session, but remains bearish. A return above 1.29 at this point is needed to neutralize the bearish outlook in the near-term. Otherwise, the downtrend has room to fall, facing support factors in the 1.2660-1.2680 area (61.8% retracement and Nov. support pivot).
Support Levels: 1.2674, 1.2714, 1.2763
Resistance Levels: 1.2852, 1.2892, 1.2941
GBP/USD Current price: 1.5207
View Live Chart for the GBP/USD (select the currency)
GBP/USD came up to test the 1.52 handle, which held. Today’s price action neutralized the bearish outlook began this week, and threatens to continue the short-term bullish outlook as it challenges the 2013 falling trendline. A break above 1.5260 will be a clear break above the TL and give a near-term bullish outlook first toward the 1.5321 resistance pivot, then the 38.2% retracement level in the 1.5405-1.5422 area.
Support Levels: 1.5050, 1.5080, 1.5139
Resistance Levels: 1.5228, 1.5258, 1.5317
USD/JPY Current price: 94.03
View Live Chart for the USD/JPY (select the currency)
USD/JPY traded within this week’s range between 95.00 and 93.50. A break above 95.00 favors the bullish continuation scenario. A break below 93.50 level extends the consolidation mode, but does not neutralize the longer-term bullish outlook until a break below a rising trendline from November.
Support Levels: 93.31, 93.59, 93.87
Resistance Levels: 94.43, 94.71, 94.99
AUD/USD: Current price: 1.0427
View Live Chart for the AUD/USD (select the currency)
Near-term price action confirmed a breakdown of the March rising trendline, but price probably needs to clear below 1.04 to draw a near-term bearish outlook toward the 1.0335-1.0350 area which contains the support from a previous consolidation area and 38.2% retracement of the March rally.
Support Levels: 1.0326, 1.0361, 1.0387
Resistance Levels: 1.0448, 1.0483, 1.0509
EUR/USD: A return above 1.29 needed to neutralize bearish outlook
No comments:
Post a Comment