EUR/USD Current price: 1.2990
The EUR/USD approaches to 1.3000 area after the so awaited ECB decision, that actually shed no light on the European situation: the ECB left the interest rate unchanged at 0.75% as expected. In the press conference Draghi refrained from making new announcements following past month OMT decision, and just reaffirmed ECB well know stance; market however, consider that enough to buy the EUR/USD, that stands near 1.3000 and with a strong upward momentum according to the hourly chart. Stocks are mixed across the world with European indexes in red but away from daily lows, and US ones pointing for a positive opening. Early week range has been broken to the upside, with scope now to test 1.3030 before facing some selling interest. Above this last, doors will open for a ride towards 1.3100 later on the day.
Support levels: 1.2970 1.2935 1.2900
Resistance levels: 1.3000 1.3030 1.3085
GBP/USD Current price: 1.6150
Pound extends is recovery against the greenback, after bottoming yesterday around 1.6060, turning short term bullish according to the hourly chart, that shows indicators heading north above their midlines and price finding support in a bullish 20 SMA. The pair may now attempt to test the static resistance area around 1.6180, yet needs to actually clear it to be stand firmer to the upside. In bigger time frames the technical outlook is still quite heavy in the pair, as indicators hold in negative territory while 20 SMA heads south now below current price. Short term talking however, the upside is favored as long as the pair stands above 1.6140 static support zone.
Support levels: 1.6140 1.6100 1.6060
Resistance levels: 1.6180 1.6220 1.6250
USD/JPY Current price: 78.59
The USD/JPY extended its advance past Asian session to 78.70, consolidating recent gains above the 78.40 static support level, trading as usual in a very tight range. In the hourly chart, indicators corrected overbought readings and turned lower, still above their midlines while 100 SMA gains a stronger bullish slope below current price advancing more gains for the USD/JPY. As long as above 78.40, the pair has scope to extend towards 78.80 where next hurdle of sellers will surge. The downside seems now protected by buying interest around the 78.00/10 price zone.
Support levels: 78.40 78.10 77.80
Resistance levels: 78.80 79.05 79.30
AUD/USD: Current price: 1.0220
The AUD/USD continues to be heavy, having posted a fresh low of 1.0180 after disappointing data in Australia overnight, and unable to overcome the 1.0240 static resistance level. The bearish tone seen since RBA rate cut, persists as long as below that level, with 1.0160 September low still at sight. The hourly chart maintains a neutral stance as per recent range, while in the 4 hours chart indicators are coming off extreme oversold levels; however, with price refusing to take the upside, correction will remain limited in the AUD/USD. Above 1.0240, next strong resistance comes around 1.0300.
Support levels: 1.0190 1.0160 1.0125
Resistance levels: 1.0240 1.0270 1.0300
Today's new term is Quadruple Witching Day.