High yielders struggling as dollar gives fight

EUR/USD Current price: 1.3021

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Dollar opens the week firmer against high yielders, as risk sentiment has lead the weekend with ECB’s Asmussen closing door on Greece pleas for leniency from the bank, and EU authorities scheduling several meetings this week, to work on the Spanish case; fears the country may drag Europe back to the worse of its 3-year crisis, spark some risk aversion across the board, and will likely be the main theme for the upcoming days. With Japan on holidays, Asian session may be more quiet than usual. The EUR/USD hourly chart shows price gapping slightly lower, and indicators flat in neutral territory, giving no clear bias for the short term. In the 4 hours chart the technical outlook is still bullish with the pair standing above the 1.3000 mark. Below this last, short term sellers may attempt to send price lower, with 1.2970 as next strong support; once below this last bears will lead the way for the day. 

Support levels: 1.3000 1.2970 1.2940

Resistance levels: 1.3050 1.3085 1.3120

GBP/USD Current price: 1.6135

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Pound seems even weaker today, after faltering to hold above the 1.6200 mark against the greenback after US NFP past Friday. The pair trades above the 1.6100 area holding a bearish tone according to the hourly chart, as indicators turn flat in negative territory while price develops below a bearish 20 SMA. In the 4 hours chart, current candle opened below 20 SMA while indicators quickly approach their midlines gaining bearish strength. Overall the downside is favor for the pair, with a retest of 1.6060 at sight for today.

Support levels: 1.6110 1.6085 1.6060

Resistance levels:  1.6150 1.6190 1.6220

USD/JPY Current price: 78.72

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Dollar advances against the yen, with the pair trading near past week high seat at 78.86, holding a bullish stance according to the hourly chart: 100 SMA continues heading higher below current price and distance against 200 one widened; indicators are mostly flat while holding in positive territory. In bigger time frames, the upside is being limited by 100 DMA around mentioned Friday high. The pair has been unable to overcome the moving average since late May, so a strong advance above it will likely anticipate more  gains targeting first the 79.50/60 price zone.

Support levels: 78.50 78.35 78.10 

Resistance levels: 78.80 79.05 79.30

AUD/USD: Current price: 1.0167

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The AUD/USD gapped lowed at the opening, breaking below past September low and reaching 1.0150 before bouncing slightly higher. While main risk event will be RBA’s Governor Steven responding to a panel over the bank’s knowledge of corruption at Note Printing Australia and Security International, the technical outlook continues to be bearish. The hourly chart shows indicators aiming slightly higher from extreme oversold levels, although price holds in a tight range. In the 4 hours chart there is a strong bearish momentum that anticipates more losses ahead for Aussie, with the upside now capped by 1.0270 strong static resistance now.

Support levels: 1.0150 1.0120 1.0080

Resistance levels: 1.0190 1.0235 1.0270

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