Forex: AUD/USD: Aussie turned down at 0.8335 to retreat to 0.8165 low

FXstreet.com (Barcelona) - Australian dollar rally from Jul 13 low at 0.7700 was capped yesterday at 0.8335, and the pair fell during Asian and U.S. sessions to 0.8165 low, before attempting a recovery, reaching levels right above 0.8200 at the time of writing.

According to the E-Forex Team, the pair remain bullish on the short-term and extended losses are a good buying opportunities: "Downside is likely to remain under pressure until reaching a decent support level and that could be .8150 or .8070, lower. Short term sentiment remains bullish while intraday studies are bearish and extended losses to lower levels will be good buying opportunities."

Resistance levels, according to the E-Forex team lie at 0.8250/60,and above there, 0.8335/50 and 0.8380. On the downside, support levels lie at 0.8180/85, and in case of further decline, 0.8150 and 0.8070.

• AUD/USD

AUD/USD (Jul 29 at 10:40 GMT)

0.8209/10 (-0.67%)

H 0.828 L 0.8163

S3	S2	S1	R1	R2	R3
0.8156	0.8176	0.8196	0.8210	0.8230	0.8251

[?]Trend Index	[?]OB/OS Index
Slightly Bullish	Neutral
Data updated on Jul 29 at 10:35 (15-minute timeframe)

[ View AUD/USD Technical Studies ]

UK Consumer lending posts the lowest advance on record in June

FXstreet.com (Barcelona) - Consumer lending rose by GBP414 million in June, down from revised GBP485 million increase in May, June's record mars the shortest increase on consumer lending since records began in 1993, according to data released by the Bank of England.

The main reason for such low increase on lending has been the low growth on consumer credit, GBP71 million increase, down from the GBP153 million in May. Mortgage lending grew by GBP343 million, right above May's record low at GBP331 million.

GBP/USD has remained little moved after consumer lending news, trading at intra-week lows between 1.6355 and 1.6390.

• GBP/USD

GBP/USD (Jul 29 at 10:39 GMT)

1.6399/00 (-0.16%)

H 1.6469 L 1.6344

S3	S2	S1	R1	R2	R3
1.6293	1.6334	1.6375	1.6395	1.6436	1.6477

[?]Trend Index	[?]OB/OS Index
Slightly Bullish	Neutral
Data updated on Jul 29 at 10:35 (15-minute timeframe)

[ View GBP/USD Technical Studies ]

European markets open with gains; Euro and Pound at support levels

FXstreet.com (Barcelona) - European markets are going through gains in the first hours of trading, supported by better than expected quarterly profits by chemicals, which have offset negative influences by declining commodity prices. Euro and Pound declines have found support and the pairs attempt to re-gain some of the lost ground.

Eurostoxx 50 index trades 0.70% above its opening level, while German DAX Index gains 0.93&% and the French CAC Index adds 0.73%. In the UK the FTSE index trades 0.50% above its opening level.

On teh macroeconomic front, UK consumer lending posted the lowest increase on record, growing by GBP414 million in June, down from revised GBP485 million increase in May.

Euro and Pound at support levels

EUR/USD decline from yesterday's high at 1.4300 resistance has found support at the 1.4140 area, after having hit a fresh intra-week low at 1.4110 ahead of the European session opening, and the Euro consolidates between 1.4140 and 1.4185/00.

GBP/USD decline from 1.6555 resistance ares has found support at 1.6350, although the Pair did not take off from the mentioned level, currently at 1.6360, and further dipping might be ahead.

USD/JPY decline from 95.00 has found support at 94.00 and the pair has bounced during early European session to test resistance area at 94.60 at tjhe moment of writing.

• EUR/USD
• GBP/USD

EUR/USD (Jul 29 at 10:39 GMT)

1.4155/57 (-0.11%)

H 1.4195 L 1.4107

S3	S2	S1	R1	R2	R3
1.4065	1.4100	1.4136	1.4154	1.4189	1.4224

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Jul 29 at 10:35 (15-minute timeframe)

[ View EUR/USD Technical Studies ]

Forex: EUR/USD: Euro struggling at 1.4120/30 area

FXstreet.com (Barcelona) - The Euro continues showing weakness on hourly charts and, after its attempt to pick up capped right below 1.4200, the Euro dropped back to 1.4120/30 support area which is coming under pressure at the moment of writing.

According to Ian G Coleman, collaborator at FXstreet.com, the bearish approach to the pair is favoured: "With the double top (nearly) and spikes on the daily chart. We have a descending trend line on the 4 hr chart with an impulse day lower yesterday. (First target should be the triangle line at 1.4080) We are holding onto the 20 SMA on the 1 hr chart. Stop above 1.4200.

In case of dipping below 1.4120 level, the Euro could find support at 1.4090 and 1.4070 (Jul 9 high). On the upside, resistance levels remain at 1.4190/00 intra-day high , and above here, 1.4220 and 1.4260.

• EUR/USD

EUR/USD (Jul 29 at 10:35 GMT)

1.4153/54 (-0.13%)

H 1.4195 L 1.4107

S3	S2	S1	R1	R2	R3
1.4076	1.4112	1.4147	1.4168	1.4203	1.4239

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Jul 29 at 10:25 (15-minute timeframe)

[ View EUR/USD Technical Studies ]