EUR/USD Current price: 1.2778
Picture continues to be complicated for EUR/USD, as despite the pair stands near weekly high the common currency is unable to catch up momentum. Market pessimism keeps stocks under pressure both in Europe and the US, and a jump to 439K in US weekly unemployment claims surely weights on market sentiment. Latest news and falling stocks are preventing EUR/USD from rising strongly, although the pair holds a bullish tone according to the hourly chart: a short term ascendant trend line coming from 1.2660 contained the downside during early Asia, and price stands steady above the 1.2750 mark; indicators head higher in positive territory, with price currently testing the 1.2780/90 resistance level. Break above, will favor an upward continuation towards the 1.2840 price zone.
Support levels: 1.2750 1.2725 1.2690
Resistance levels: 1.2785 1.2810 1.2840
GBP/USD Current price: 1.5854
Pressured lower on disappointing UK Retail Sales, the GBP/USD trades around the 1.5850 area, still bearish yet losing downward potential as range extends. The hourly chart shows technical readings mostly horizontal, situation that repeats in the 4 hours one. While the downside remains favored as long as the upside remains limited, the pair needs now to lose the 1.5820 support to extend its slide to 1.5770 strong static support zone. Current level has offered short term resistance for most of the day, so once above, the upside seems exposed towards the 1.5910/20 price zone.
Support levels: 1.5820 1.5770 1.5830
Resistance levels: 1.5850 1.5880 1.5915
USD/JPY Current price: 81.31
The USD/JPY added extra 100 pips today, extending the bullish rally after regaining 80.00 yesterday. Quoting at fresh 7-month high, technical readings continue to favor the upside in the hourly chart, as indicators head north in overbought territory. Downward corrections will most likely be seen as intraday buying opportunities as long as 80.80 area holds.
Support levels: 80.05 79.60 79.20
Resistance levels: 80.60 80.90 81.10
AUD/USD: Current price: 1.0325
AUD/USD broke below the daily ascendant trend line around 1.0370and fell pretty straight to 1.0307 where short term buyers surge. The hourly chart shows the downside remains exposed, as latest bounce is being capped by immediate resistance around 1.0330, while indicators continue heading lower in oversold territory. In the 4 hours chart bearish momentum remains strong with only a break below 1.0290 favoring more slides today.
Support levels: 1.0290 1.0260 1.0220
Resistance levels: 1.0330 1.0370 1.0410
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