EUR/USD Current price: 1.2738
The EUR/USD finally surrendered to the EU recession reality, breaking lower early Europe, and hitting a daily low of 1.2722. For the short term, the hourly chart shows price broke below the ascendant trend line coming from 1.2660 and remains now limited by 12740/50 Fibonacci area; indicators head south in negative territory, although with pretty much no headlines to trade, market is uncertain on where to go. Immediate support comes around 1.2710/20 area, while bigger stops are lined below 1.2690 area. Only below bears will regain full control of the pair.
Support levels: 1.2710 1.2690 1.2660
Resistance levels: 1.2810 1.2840 1.2880
GBP/USD Current price: 1.5874
Unchanged since last updates, the GBP/USD holds in a tight range near the base of the channel, still capped by the 1.5900 area. Technical readings show no actual direction, with indicators standing in neutral territory in the hourly chart. In the 4 hours one the picture is quite the same with the pair trapped in the 1.5820/1.5920 region. Only a break of either extreme will set a clearer short term trend in the pair.
Support levels: 1.5850 1.5820 1.5770
Resistance levels: 1.5880 1.5915 1.5950
USD/JPY Current price: 81.16
The USD/JPY remains firm above 81.00, consolidating recent gains and also short term directionless. In bigger time frames however, and with the pair standing near the 7-month high posted this week, the bullish trend prevails, with key midterm support now around 80.60: dips towards that level will likely be seen as buying opportunities, while break above 81.45 high will expose the 82.50 area for next week.
Support levels: 81.10 80.80 80.60
Resistance levels: 81.45 81.70 82.00
AUD/USD: Current price: 1.0322
The AUD/USD maintains a heavy tone after failing to establish clearly above the 1.0335 resistance area, with the hourly chart showing price consolidating around a flat 20 SMA and indicators around their midlines. In the 4 hours chart however, technical readings continue to favor the downside, with a break below 1.0290 needed to confirm a downward acceleration in the pair.
Support levels: 1.0290 1.0260 1.0220
Resistance levels: 1.0330 1.0370 1.0410