EUR/USD Current price: 1.2685
The EUR/USD saw a boost towards 1.2730 following market talks of a 44B aid going to Greece, bouncing from 1.2660 fresh monthly low. Bears however took their chances and the pair trades back below the 1.2700 mark ahead of US opening, having erased already most of the post rumor gains. The hourly chart, shows price breaking back below a bearish 20 SMA while indicators turn south around their midlines, as price approaches daily low; in the 4 hours chart latest spike was contained by 20 SMA that continues heading south as well as technical indicators: the downside remains favored for the pair, with a break below 1.2660 exposing 1.2610 next strong support zone.
Support levels: 1.2660 1.2635 1.2610
Resistance levels: 1.2710 1.2740 1.2785
GBP/USD Current price: 1.5873
Better than expected readings in the UK CPI was not enough to put GBP/USD above the 1.5910/20 resistance area, and the pair continues to trade near the base of a daily descendant channel, today at 1.5850. Latest recovery put technical indicators in positive territory, although the pair lost momentum, and reading head back lower, approaching their midlines. In the 4 hours chart indicators turned flat in oversold territory, far from suggesting an upward correction ahead. Still waiting for the base of the channel to give up to see a run towards 1.5770 area.
Support levels: 1.5850 1.5820 1.5770
Resistance levels: 1.5915 1.5950 1.6000
USD/JPY Current price: 79.46
USD/JPY found sellers around 79.60, where 200 DMA and 100 SMA in the hourly chart converge to offer strong dynamic resistance in the pair. Short term technical readings hold a bearish tone as distance in between 100 and 200 SMA’s widens in the hourly chart, while technical indicators hover around their midlines; in bigger time frames the pair holds a more neutral stance, trapped in between 79.00 and 79.60: either extreme needs to give up to give a clearer picture of what’s next for USD/JPY.
Support levels: 79.20 79.00 78.80
Resistance levels: 79.60 79.80 80.05
AUD/USD: Current price: 1.0408
Despite holding to its overall bullish trend the AUD/USD starts giving signs of exhaustion, as rallies above 1.0400 area tend to post less gains and last fewer these days. Repeated failure to extend beyond 1.0445 resistance weights in the pair, that looks short term bearish according to the hourly chart: price develops below 20 SMA while indicators head south below their midlines; in the 4 hours chart technical readings turned flat as price hovers around an horizontal 20 SMA while indicators stand in narrow range around their midlines. Downward movements should consider corrective towards 1.0360 level, where a daily ascendant trend line will challenge bulls determination.
Support levels: 1.0390 1.0360 1.0330
Resistance levels: 1.0445 1.0480 1.0510