EUR/USD Current price: 1.1117
View Live Chart for the EUR/USD
The EUR/USD pair traded as low as 1.1103 this Wednesday, weighed by worse than expected Services PMI in the Euro area, and looming ECB meeting this Thursday. The US ADP private survey said the country added 212K new jobs last February, slightly below the 220K expected, and with January reading reviewed to the upside, up to 250K. Early in the US session, the pair trades near the mentioned low, with 1.1150 capping the upside, and the 1 hour chart showing that the price holds below a bearish 20 SMA, whilst indicators turned flat after correcting oversold readings. In the 4 hours chart the bearish tone has lost downward momentum, but is far from signaling a change in the dominant bearish trend. The market may remain on hold ahead of tomorrow's ECB decision, furthermore considering the Central Bank is expected to shed light on the QE program expected to be launched as soon as next week.
Support levels: 1.1095 1.1050 1.1010
Resistance levels: 1.115 1.1180 1.1230
GBP/USD Current price: 1.5378
View Live Chart for the GBP/USDThe GBP/USD pair trades near a three-week low of 1.5315 posted mid February, with a heavy bearish tone as per dollar broad strength against its European rivals. The 1 hour chart shows a strong bearish momentum coming from technical readings as the price extends further below a bearish 20 SMA whilst indicators accelerate lower below their midlines. In the 4 hours chart the price is sliding further below its 200 EMA, while the technical indicators gained bearish strength well below their midlines, supporting additional declines in the short term.
Support levels: 1.5315 1.5280 1.5250
Resistance levels: 1.5340 1.5385 1.5420
USD/JPY Current price: 119.55
View Live Chart for the USD/JPYThe USD/JPY pair continues to trade range bound, finding short term buyers around the 119.40 price zone. The 1 hour chart shows that the pair trades below its 100 SMA, while the technical indicators aim higher around their midlines, lacking directional strength at the time being. In the 4 hours chart the price holds well above its moving averages but the technical indicators head lower below their midlines, keeping the risk towards the downside. Nevertheless, the pair will likely continue to hold in range ahead of US monthly employment figures.
Support levels: 119.40 119.10 118.80
Resistance levels: 119.95 120.45 120.90
AUD/USD Current price: 0.7841
View Live Chart for the AUD/USDThe Australian dollar advanced up to 0.7859 against its American rival, with the pair maintaining its intraday gains. The 1 hour chart shows that the price holds above a flat 20 SMA while the technical indicators are turning south above their midlines. In the 4 hours chart the technical picture favors the upside as the indicators head higher above their midlines whilst the 20 SMA offers intraday support around 0.7800.
Support levels: 0.7800 0.7755 0.7720
Resistance levels: 0.7840 0.7890 0.7925
Recommended Content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.