EUR/USD Current price: 1.2740
Struggling around the 1.2740 static Fibonacci level, the EUR/USD holds a pretty strong bearish stance following ECB decision to leave their economic policy unchanged. Offering the usual rhetoric of Euro’s support, question shows some interesting facts: OTM won’t exist without conditionality, neither be triggered without an aid request. The EUR/USD is being limited to the upside by its 20 SMA around 1.2750 having been as low as 1.2716 already, which supports the dominant bearish trend. Technical readings in the 1 and 4 hours charts hold in negative territory, although turning flat, showing no much downward momentum at the time being. Further falls will likely be seen if 1.2710 support is broken, with 1.2650/60 area then at sight.
Support levels: 1.2710 1.2680 1.2650
Resistance levels: 1750 1.2785 1.2810
GBP/USD Current price: 1.5987
The GBP/USD saw some upward momentum after BOE left also its economic policy unchanged, surging to the 1.6000 level, where sellers are so far halting the rally. Market players seem to have been speculating on an extension of the APP, and that’s the reason of the short term advance. However price starts to retrace as US comes to play and stocks turn intraday red. Technical readings in the hourly chart are positive yet with no strength: price needs to advance above 1.6020 to anticipate further advances, while 1.5970 stands as immediate short term support.
Support levels: 1.5970 1.5950 1.5910
Resistance levels: 1.5995 1.6025 1.6065
USD/JPY Current price: 79.85
Holding to its range, the USD/JPY continues to trade below the 80.00 mark despite positive US data, weighted only by market lack of optimism. Technically the hourly chart shows price still below 100 and 200 SMA, which favors the downside, while technical indicators stand in negative territory, supporting the view. As commented before, immediate support now comes at 79.60, 200 DMA, followed by recent daily lows around 79.20. Daily close below mentioned DMA will set the tone for a possible retest of the 78.80 area over the upcoming sessions, while a return above 80.00 will signal a short term bullish continuation in the pair.
Support levels: 79.60 79.20 78.80
Resistance levels: 80.00 80.30 80.60
AUD/USD: Current price: 1.0426
The AUD/USD maintains its bullish tone after better than expected employment figures in Australia. The pair has found buyers on dips below 1.0400, and points for an upward extension according to the hourly chart, that shows price advancing above 20 SMA and indicators heading north in positive territory. 4 hours charts however, present some bearish divergences at the time being, that may come into play only if price loses the 1.0370 price zone; advances beyond 1.0445 on contrary, will expose an extension towards the 1.0500 area.
Support levels: 1.0400 1.0370 1.0335
Resistance levels: 1.0445 1.0480 1.0510