With the global recession almost coming to end and some large economies showing signs of recovering, a lot it seems is still on the offing. Major currencies in the world including the yen, US dollar and Euro have shown weakness in the past few days and maybe it is an indication for more financial slides. On Monday, the Euro and US dollar majors started showing signs of slides despite promising openings at the beginning of the week. Meanwhile, Greece remains a problem to G20, which has in turn downgraded it. Elsewhere in the United Stated, the release of housing data leads to a particular interest rise especially on the commodity currencies.
Having a 1.3365 support, the EUR/USD struggled with a 1.3400 level in the Asian market. An increasing momentum as per the hourly charts indicated that the majors would be headed for more slides that might be even below the midlines with 20SMA increasing barely above the slope. Even then, according to a 4hour chart, the pricing still holds its ground well above the 20 SMA that is also routed at the 1.3365 thus the more strength for the level. The support levels stood at a 1.3370 1.3340 1.3290 while the resistance levels stood at the 1.3415 1.3445 1.3480.
The current price standings for GBP/USD
In as much as the GBP/USD pair garnered the majority of Friday’s gains, the British Pound slide against the US Dollar holding slightly above a 1.5800. According to the hourly chat, the pair showed limited momentum indicating flats even though the 20 SMA Price supports more slides in the future and gains a slope. Readings eased indicators that the pair was actually headed for more slides, the key here being a static 1.5770 points with a downward price zone headed for 1.5640/60. The support levels for the GBP/USD pair is at the 1.5810 1.5770 and 1.5730 while its resistance level is standing at a 1.5860 1.5890 1.5920.
The current price standings for US Dollar and Japanese Yen
This pair traded at a uniquely wide range of a high of 81.57 and its low was at 80.12 on Monday. Although its low gained momentum, the pair standings remained below the 20 SMA with indicators holding below the pair midlines. According to the 4-hour chart, the pair gained higher as its price struggled around the 20SMA. Strong momentum and extremely overbought readings characterized its trending. The pair’s support level stood at a 80.39, 79.80, 79.50 while its resistance level stood at a majestic 80.65, 80.90, 81.35.
The current Australian Dollar and US dollar standings
This pair had struggled a good lot of time to remain stable throughout Monday with a stronger run for the Australian dollar getting to the highs of 1.0780 against the US dollar. Hourly rates indicated highs above the pair’s midlines thus supporting better gains for commodity currencies. According to the 4-hour charts, the pair showed strong momentum thus giving support for short-term bias. The supportive levels for this level stood at 1.0670 1.0635 1.0600 while its resistance level stood at a 1.0780 1.0810 1.0840.