EUR/USD: Still pressured, 1.2745 at sight

EUR/USD Current price: 1.2822

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Dollar opens the week with a strong foot across the board, gapping higher against most of its rivals; woes in Greece and Spain, along with a positive US NFP number past Friday are giving the greenback support ahead of US elections and Central Banks decisions later this week. The EUR/USD gapped slightly lower, holding above 1.2800 yet not for much. The hourly chart shows bearish momentum remains strong despite indicators navigate oversold territory, while in the 4 hours chart technical readings also favor the downside. Key support, if 1.2800 gives up, stands at 1.2745 38.2% retracement of the latest daily bullish run and past June monthly high. A daily close below will likely give more strength to sellers, and 1.2610 seems then likely for this week. For the short term expect sellers to align in the 1.2880 former support now strong resistance area.

Support levels: 1.2820 1.2790 1.2745

Resistance levels: 1.2840 1.2880 1.2910 

GBP/USD Current price: 1.6020

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Pound stands around New York close, and despite the bearish pressure is strong the pair holds above the 1.6000 area, with a messy congestion zone below up to 1.5970 which stands as first strong support; with market negative mood and as long as below 1.6065, a test of such level is favored for this Monday. Technical readings both in the 1 and 4 hours chart favor the downside, and while hovering around oversold levels, there are no technical signs around of an upward correction. 

Support levels: 1.6000 1.5970 1.5920

Resistance levels: 1.6065 1.6090 1.6120 

USD/JPY Current price: 80.51

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USD/JPY holds near 80.60 area tested after US data, having found short term support in the 80.30 level. The hourly chat shows 100 SMA crossing back above 200 one, although indicators present some bearish divergences at the time being, still holding above their midlines. In the 4 hours chart technical readings are also giving signs of exhaustion, although price holds near mentioned high. The overall stance is bullish with the upside favored in the pair. Latest support comes at 200 DMA, that capped the downside several times past week, today around 79.60.

Support levels: 80.30 80.10 79.70 

Resistance levels: 80.60 81.00 80.45

AUD/USD: Current price: 1.0341

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Aussie seems more reluctant to give up ground against the greenback, still trading in its 100 pips range. The hourly chart shows that price is slowly bouncing higher from 1.0335 area, as indicators head north from oversold readings; with Australian Retail Sales in a few minutes, the pair will likely set intraday trend after the news: price needs to regain 1.0360 level to erase the bearish tone seen over the past few sessions, and reattempt to break the 1.0410 static resistance level and roof of the range.  Falls will find some buying interest in the 1.0290/1.0300 area, and only below this last the pair may turn bearish, at least in the short term.

Support levels: 1.0335 1.0295 1.0240 

Resistance levels: 1.0370 1.0410 1.0445 

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