USD/JPY

USD/JPY wavers below 105.00 during the early Wednesday. In doing so, the pair takes rounds to the lowest levels since March 13 flashed the previous day. Risk aversion fails to portray US dollar’s bounce, virus woes, absence of US fiscal stimulus weigh on the quote. USD/JPY could find support at 104.64 and a fall through may take it further to the support level of 104.50. On the other side, resistance could stand at 105.26, and a rise through may take it to the next resistance level of 105.40.
USDJPY_29_07_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 104.05 104.50 104.80 105.25 105.55 106.00 106.30
1 WEEK 103.52 104.60 105.37 106.45 107.22 108.30 109.08
1 MONTH 102.25 104.16 106.04 107.95 109.83 111.74 113.62

EURUSD

EUR/USD’s upward momentum looks to have been slow down with investors adopting a cautious stance ahead of the Fed amid renewed concerns regarding the health of the US economy. The currency pair faced rejection near 1.1780 for the second straight day on Tuesday and is currently trading around 1.1740. EUR/USD could find support at 1.1707 and a fall through may take it further to the support level of 1.1689. On the other side, resistance could stand at 1.1773, and a rise through may take it to the next resistance level of 1.1794.
EURUSD_29_07_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1610 1.1654 1.1686 1.1730 1.1762 1.1806 1.1837
1 WEEK 1.1227 1.1314 1.1485 1.1572 1.1743 1.1830 1.2001
1 MONTH 1.0749 1.0922 1.1077 1.1250 1.1405 1.1578 1.1732

GBPUSD

GBP/USD picks up the bids above 1.2900 while into the London open on Wednesday. The pair recovered as traders shed the US dollar’s recovery moves ahead of the key Fed decision. Worries over Brexit, coronavirus wave 2.0 and the UK-China tussle to weigh on the pair. GBP/USD could find support at 1.2894 and a fall through may take it further to the support level of 1.2863. On the other side, resistance could stand at 1.2962, and a rise through may take it to the next resistance level of 1.2978.
GBPUSD_29_07_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2747 1.2792 1.2863 1.2908 1.2978 1.3024 1.3094
1 WEEK 1.2317 1.2417 1.2604 1.2704 1.2891 1.2991 1.3178
1 MONTH 1.1602 1.1927 1.2164 1.2489 1.2727 1.3051 1.3289

GOLD

Gold reads water above $1,950, as the bulls turn cautious in the run-up to the Fed showdown. The dovish Fed expectations amid coronavirus-led economic risks and US fiscal stand-off could keep the upside favoured in the yellow metal. Gold could find support at 1,939.70 and a fall through may take it further to the support level of 1,930.10. On the other side, resistance could stand at 1,972.10, and a rise through may take it to the next resistance level of 1,980.80.
Gold_29_07_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1830.46 1865.33 1904.96 1939.83 1979.46 2014.33 2053.96
1 WEEK 1736.54 1771.57 1834.54 1869.57 1932.54 1967.57 2030.54
1 MONTH 1581.41 1626.63 1713.56 1758.78 1845.71 1890.93 1977.86