EUR/USD Current price: 1.3168


View Live Chart for the EUR/USD


e


Pretty interesting Tuesday, as EUR/USD broke higher, reaching 1.3185 before stalling. Month end fixing and some short covering gave the pair the first push higher, before disappointing US PMI data and headlines stating an ECB rate cut is not a done deal, fuel the rally. US stocks running and closing at fresh record highs by the end of the day, helped the pair maintain its gains, with buyers now around 1.3150, 100 DMA. With not much data expected for current Asian session, and Europe closed on holidays, majors will likely hold in ranges, waiting for FED’s economic policy decision tomorrow US afternoon. FOMC is expected to repeat the usual dovish stance and refrain from comment on a possible end of QE, which will only add selling pressure to the greenback. 




As for the short term, the EUR/USD hourly chart shows a strongly bullish 20 SMA converging with the Fibonacci retracement around 1.3115/20, offering short term support, while indicators hold in positive territory. In the 4 hours chart technical readings present a strong upward momentum, reflecting latest run higher and the fact that price stands near the daily high. New gains beyond 1.3200 is what it takes to confirm an upward continuation in the pair, with 1.3250/60 area then at sight. 



Support levels: 1.3150 13115 1.3170



Resistance levels: 1.3200 1.3255 1.3300



EUR/JPY Current price: 128.30


View Live Chart for the EUR/JPY (select the currency)


ey


The EUR/JPY trades back above 128.00, although finding resistance in the hourly 100 SMA around 128.50 that heads south below 200 one, while indicators remain flat in neutral territory, all of which maintains the pressure to the downside in the pair, despite latest EUR recovery. In the 4 hours chart technical readings remain below their midlines, supporting the shorter term view. So far the pair has found buyers around 127.00 yet if the level gives up, it can shed another 100 pips, as there’s not much in the middle up to 126.00 area. Steady gains above 128.80 on the other hand, will deny the bearish bias and favor a recovery back towards the 130.00 price zone.



Support levels: 128.00 127.60 127.10 



Resistance levels: 128.40 128.80 129.50



GBP/USD Current price: 1.5531


View Live Chart for the GBP/USD (select the currency)


g


Pound surged to 1.5568 against the greenback on dollar selloff, and despite the positive tone, the pair was unable to extend higher. Consolidating for most of the past session, the hourly chart presents a bullish tone, with price above 20 SMA and momentum heading higher above 100, while the 4 hours chart shows price finding support in a bullish 20 SMA currently around 1.5500, but indicators again diverging to the downside. Renewed buying interest should send the pair test 1.56 area, 50% retracement of its latest daily fall, while a break below 1.5490 with increase risk of a downward correction up to 1.5420 price zone.



Support levels:  1.5490 1.5450 1.5420 



Resistance levels: 1.5540 1.5585 1.5610



USD/JPY Current price: 97.43


View Live Chart for the USD/JPY (select the currency)


y


The USD/JPY extended its slide up to 97.00 this Tuesday, leading to further unwind on longs. Risk for the pair remains to the downside, as the hourly chart shows 100 SMA gaining bearish momentum above current price while indicators head south in negative territory. Bigger time frames also favor the downside, with next key support around 96.70, strong static support level. A break below this last should expose the pair to a deeper correction, with 94.0 then at sight for the upcoming weeks.



Support levels: 97.10 96.70 96.35



Resistance levels: 97.80 98.20 98.60 



AUD/USD: Current price: 1.0368


View Live Chart for the AUD/USD (select the currency)


a


The AUD/USD continues its slow but steady advance, having been as high as 1.0383 this Tuesday. Although further technical confirmation with a break above 1.0410 is required, the upside is now favored, as buyers had now aligned in the 1.0300/30 price zone. The hourly chart shows price above 20 SMA while indicators bounce from their midlines supporting the positive bias, while the 4 hours chart shows also a positive tone. 



Support levels: 1.0335 1.0310 1.0260 



Resistance levels: 1.0380 1.0410 1.0440































New to Forex? Visit our Glossary!