Currency Majors Technical Perspective
International Trading
EUR/USD Current price: 1.2703
View Live Chart for the EUR/USD
Euro lost momentum after disappointing BOJ outcome of the emergency meeting set past Asian session, and the common currency quotes at daily lows, aiming to confirm a break under 1.2700. Hourly indicators are quite bearish at this point, thus market lacks of strength and volume, waiting for US opening to inject some more. Failure to regain 1.2780 past Friday, suggest further downside could be seen if 1.2660 support gives up.
Support levels: 1.2690 1.2660 1.2620
Resistance levels: 1.2735 1.2770 1.2810
GBP/USD Current price: 1.5524
View Live Chart for the GBP/USD (Select the currency)
Trading in a tight range since Asian opening, pear holds a slightly bearish tone ahead of Wall Street opening, thus still above 1.5500; indicators, both in 1 and 4 hours charts remain bearish, keeping the upside limited at 1.5530 immediate resistance zone. Lose of 1.5470 should accelerate the fall n the cross, while only a clear confirmation above 1.5560 could reverse intraday bearish tone.
Support levels: 1.5500 1.5470 1.5430
Resistance levels: 1.5530 1.5560 1.5590
USD/JPY Current price: 84.73
View Live Chart for the USD/JPY (select the currency)
Challenging strong support area, pair erased most of past Friday’s gains, leaving primary trend intact. Turning back bearish in both 1 and 4 hours charts, pair seems pointing to a retest of intraday lows around 84.30 area, immediate support. Only a strong recovery above 85.10 could turn intraday bias slightly positive, not seen at this point.
Support levels: 84.30 84.00 83.70
Resistance levels: 85.10 85.40 85.90
USD/CHF Current price: 1.0241
View Live Chart for the USD/CHF (select the currency)
Pair regained the downside, approaching again to monthly lows around 1.0220, with hourly indicators gaining bearish momentum; bigger time frames show the same picture, with 4 hours indicators crossing upside down their midlines and current candle crossing 20 SMA. Stops should be gathered under mentioned 1.0220 level, so there is a good chance of a strong sell off, if the support is finally vulnerated.
Support levels: 1.0220 1.0190 1.0150
Resistance levels: 1.0260 1.0290 1.0330
New to Forex? Visit our Glossary! In this report, you will find the term Primary Trend.
