EUR/USD Current price: 1.3206


View Live Chart for the EUR/USD


e


With the US off on labor’s day, the American session points for some quiet consolidation across the board, with the EUR being the weakest high yield so far since Asian opening. Early data showing improved manufacturing readings in the area was not enough to push the pair beyond the 1.3225 level, which stands as immediate short term resistance. The hourly chart shows a neutral technical stance, as per indicators hovering around their midlines and price around a flat 20 SMA, but overall bearish sentiment prevails in the pair, unable to recover the ground lost. Key support continues to be the 1.3170/80 price zone, last month low and 38.2% retracement of the July/August bullish run.



Support levels: 1.3180 1.3140 1.3100



Resistance levels: 1.3250 1.3300 1.3345



GBP/USD Current price: 1.5576


View Live Chart for the GBP/USD


g


Strong manufacturing reading in the UK gave a boost to GBP/USD that approached 1.5600 early Europe, entering then in a quiet consolidative stage. The hourly chart shows 20 SMA crossing downside up 200 EMA, suggesting bulls are in control, while indicators turn flat in overbought territory. In the 4 hours chart technical readings stand In positive territory but lacking strength at the time being: price needs to extend its advance beyond 1.5620/30 area to confirm further advances today.



Support levels: 1.5550 1.5520 1.5490 



Resistance levels: 1.5595 1.5630 1.5660



USD/JPY Current price: 99.22


View Live Chart for the USD/JPY


y


The USD/JPY skyrocketed through 99.00 with the European opening and diminishing risk aversion, breaking above the daily descendant trend line coming from this year high at 103.72, and standing so far above its 100 DMA, both indicators converging in the 98.90 area and offering now immediate support. As for the short term, the hourly chart shows indicators flat in extreme overbought levels, with no aims to correct lower. Still, dips towards the level should find buyers with a break below daily high around 99.40 favoring an approach to key 100.00 level.



Support levels: 998.9.98.50 98.20



Resistance levels: 99.40 99.90 100.30 



AUD/USD Current price: 0.8988


View Live Chart for the AUD/USD


a


Australian dollar recovered up to 0.9012 against the greenback, although remains unable to extend its gain above the key figure. The hourly chart continues to favor the upside, as momentum heads higher still in overbought territory and after a limited correction, while 20 SMA heads strongly up, offering dynamic support around 0.8960. The pair has an unfilled gap around 0.8900, and despite the short term upward momentum, the overall trend is bearish: a break below mentioned MA should see the pair filling the gap pretty fast. 



Support levels: 0.8960 0.8910 0.8885 



Resistance levels: 0.9020 0.9050 0.9090















































New to Forex? Visit our Glossary!