Currency Majors Technical Perspective
International Trading
EUR/USD Current Price: 1.3930
View Live Chart for the EUR/USD
After starting the week around 1.4000, pair gave up some ground following a risk aversion movement triggered by China decision of raising the deposit reserve requirement for the country’s big four state-owned lenders and two other commercial banks, by 50 basis point that could affect the country growth.
Consolidating in a tight range due to the lack of volume, hourly chart shows indicators mostly flat, while 4 hours ones lost momentum; still pair holds above key 1.3880/90 area, 61.8% retracement of the 1.5140/1.1870 rally and the ascendant trend line. The upside remain now limited by 1.3960 static resistance zone.
Support levels: 1.3910 1.3880 1.3840
Resistance levels: 1.3960 1.3990 1.4030GBP/USD Current Price: 1.5928
View Live Chart for the GBP/USD (Select the currency)
Unchanged from past Friday’s Wall Street opening, pair has a bearish tone for this week, as limited by strong 1.6000 resistance zone. Hourly indicators heading south under their mid lines, while price action develops under 20 SMA support the bas. Immediate support lies at the 1.5880 area, followed by 1.5810/40 zone.
Support levels: 1.5880 1.5840 1.5810
Resistance levels: 1.5950 1.5985 1.6020 USD/JPY Current Price: 81.93
View Live Chart for the USD/JPY (select the currency)
Pair reached yet another low near 81.40 on early interbank trading past weekly opening, and remains limited below 82.20 static resistance zone, holding a bearish tone in the different time frames; counting on BOJ intervention to reverse the strong trend seems not the best move in the cross, as lose of mentioned 81.40 low should suggest a retest of the all time low in the cross near 70.75.
Support levels: 81.40 81.10 80.90
Resistance levels: 82.20 82.40 82.65 USD/CHF: Current Price: 0.9625
View Live Chart for the USD/CHF (select the currency)
Ranging, pair holds the bearish tone both in 1 and 4 hours charts, limited today to the 0.9600/0.9640 price zone, as thin volume persists. Gold is giving up some ground, favoring the upside in the cross, thus gains above 0.9670 seem quite unlikely for today.
Support levels: 0.9600 0.9555 0.9500
Resistance levels: 0.9640 0.9670 0.9700
