EUR/USD Current price: 1.2732
Although European morning saw a positive opening, the EUR/USD remains incapable to breach the 1.2740/50 strong Fibonacci level. Market concerns on Greece had been set aside temporarily today, pressuring some on greenback, although soft US retail sales is now weighting across the boards. Not much definitions so far in the EUR/USD as price needs to detach from current area to define a clearer set up; the hourly chart shows a slightly positive tone as price holds above 20 SMA, yet indicators are losing upward potential turning south above their midlines. In the 4 hours chart technical readings have also turned bullish yet unless an acceleration above afore mentioned level, bears will maintain control of the pair.
Support levels: 1.2690 1.2660 1.2635
Resistance levels: 1.2745 1.2790 1.2820
GBP/USD Current price: 1.5863
GBP/USD bounce was contained by selling interest around 1.5900 and the pair continues to consolidate near the base of the daily descendant channel. The hourly chart shows a limited bearish tone, with price below 20 SMA and indicators below their midlines, while in the 4 hours chart the bearish momentum remains strong, as indicators retreat from their midlines and head south. A break either below 1.5850 or above 1.5920 will give a clearer picture of next move.
Support levels: 1.5850 1.5820 1.5770
Resistance levels: 1.5915 1.5950 1.6000
USD/JPY Current price: 80.28
The USD/JPY soared after news Japan's Prime Minister Noda is dissolving the Parliament on November 16, opening the door to elections next month. Japanese yen nose dive across the board, trading steady at daily lows against most rivals. For the USD/JPY an according to the hourly chart, the rally may be finding a temporal roof as price nears 80.60 immediate resistance level and indicators enter in extreme overbought territory. In the 4 hours chart there’s still room for more upside, so a test of 80.60 seems likely for the upcoming session, although profits may be quickly took out of the table triggering a short term squeeze lower.
Support levels: 80.05 79.60 79.20
Resistance levels: 80.60 80.90 81.10
AUD/USD: Current price: 1.0416
The AUD/USD fell to find buyers again in the 1.0390/1.0400 area. While the hourly chart shows the pair short term bearish, the existent bullish trend remains pretty much in place, as price holds far above the daily ascendant trend line today around 1.0370. In the 4 hours chart technical readings remain neutral, which helps keeping the downside limited.
Support levels: 1.0400 1.0370 1.0330
Resistance levels: 1.0445 1.0480 1.0510