More support and resistance levels for today - Forex News by FX Leaders

More support and resistance levels for today

Posted Thursday, July 7, 2016 by
Skerdian Meta • 1 min read

Before going into the levels we want to mention that the UK industrial production for May came out at -0.5%. It is negative but still better than the -0.1% expected number. That gave the Pound a push and GBP/USD shot up, breaking 1.30 and the 50 moving average altogether and reaching 1.3047, which triggered the stop loss of our sell forex signal in this pair. 

Anyway the support and resistance levels for US/JPY and AUD/USD are the following:

USD/JPY – 101.20 is the first resistance level then above that comes 101.40 which was the high last night, 101.70-80 which was the high yesterday and 102.20. Support comes at 100.90, 10, 100.60, which was today´s low and 100.00-10. 

AUD/USD – 0.7540s is a strong resistance level since it has capped this pair in the last several days as we can see in the forex chart, then comes 0.7650. The support levels are 0.7470, 0.74 which was the low yesterday and 0.7370. 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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