EUR/USD Current price: 1.2917
The EUR/USD advanced near its 6-day high of 1.2970 during the American session, buoyed despite general weakness in stocks across the world. High yielders included Euro however, took a leg down after Rajoy Spanish PM, delayed bailout request, saying is not “imminent”. Rumors early week said the request was planned by the ends of this week. Anyway, the EUR/USD closes the US session positive and despite in last days range, above the daily descendant trend coming from 1.3172 and above the Fibonacci support of 1.2910. The hourly chart shows price finding short term support in an ascendant 20 SMA while indicators stand in neutral territory, showing no actual strength either side of the board. In the 4 hours chart the technical outlook is also neutral, as the pair has been trapped in a 160 pips range for the past 5 days. The pair lacks trend at the time being, yet the upside is favored as long as above 1.2840/80; risk off may well bring some buying opportunities over current Asian session.
Support levels: 1.2910 1.2880 1.2840
Resistance levels: 1.2930 1.2960 1.3000
GBP/USD Current price: 1.6134
The GBP/USD traded heavy most of this Tuesday, soaring to 1.6186 against the greenback in a quite wild movement, blamed later on fund demand; right after reaching the high, Spanish news tear it back down to daily lows. UK data was overall disappointing early Europe, and the GBP/USD continues to trade around the base of last days range, maintaining a short term bearish tone in the hourly chart, while in the 4 hours one, price failed to advance above 20 SMA that holds a bearish tone as stands around 1.6140 offering now short term resistance. As yesterday, either a break above 1.6180 or below 1.6100 will likely set the tone in the GBP/USD.
Support levels: 1.6100 1.6060 1.6020
Resistance levels: 1.6140 1.6180 1.6220
USD/JPY Current price: 78.16
Trading most of the day in a tight range around the 78.10 static level, the USD/JPY found buyers on dips towards the 78.00 area, yet failed to advance beyond 78.20 daily high. The hourly chart offers a limited upward momentum at the time being, with chances of a test of the 78.40/50 area later on the day, if dollar manages to advance on risk aversion: for a change, yen may not be stronger than the greenback as usual in the upcoming sessions. Technical readings in the 1 and the 4 hours chart support the overall positive tone, as long as price holds above the 77.80 price zone.
Support levels: 78.00 77.80 77.50
Resistance levels: 78.20 78.40 78.80
AUD/USD: Current price: 1.0265
Investors followed governor Glenn Steven wishes, and after past session Australian rate cut, the AUD was all about selling this Tuesday. AUD/USD sunk to 1.0252 before a shy bounce, currently a few pips above an looking oversold in the hourly chart; however, upward corrections will likely remain limited now by the 1.0300 mark, that hold the downside for most of the European session. In the 4 hours chart the bearish momentum increased with indicators heading strongly down near oversold levels still with room to go: 1.0160 area, September lows, is now at sight for the pair, as long as sellers hold mentioned 1.0300 price zone.
Support levels: 1.0260 1.0220 1.0185
Resistance levels: 1.0300 10335 1.0385
Today's new term is Point and Figure Chart.