EUR/USD Current price: 1.2814
The EUR/USD surged above the 1.2800 level on market talks early US session, the EU could grant Greece financial aid worth €44 billion and will likely be announced tomorrow at the EU FinMin meeting. Later on the day and after a good bunch of rumors and headlines, aid to Greece is far from being a done deal. However, it was more than enough to trigger risk appetite, reinforced by a positive housing reading in the US: stocks and commodities closed strongly up, advancing a risk on Asian session. The EUR/USD hourly chart shows price holding near the daily high set at 1.2819, with indicators losing some of earlier momentum, mostly due to the range that predominated over the American afternoon. In the 4 hours chart technical readings also favor the upside, pointing for further advances this Tuesday, with 1.2880/90 area now at sight.
Support levels: 1.2790 1.2745 1.2720
Resistance levels: 1.2840 1.2880 1.2910
GBP/USD Current price: 1.5906
The bounce of GBP/USD from the bottom of the daily descendant channel is slowly taking form, as price fights to regain the 1.5900 level. Still capped below 1.5920 static resistance zone, the hourly chart shows a neutral stance coming from technical indicators, with price consolidating inside a small flag that suggest more gains for Pound. In the 4 hours chart the pair presents a stronger bullish tone, with a break above 1.5920 confirming and upward continuation rally. The pair has plenty of room to go as next key resistance level lies now at 1.6065 area.
Support levels: 1.5885 1.5850 1.5820
Resistance levels: 1.5920 1.5960 1.6000
USD/JPY Current price: 81.34
The USD/JPY holds in range and continues to consolidate near the fresh 7-month high set at 81.57 early Monday. The hourly chart shows no much strength according to technical indicators that hold in neutral territory as price ranges. In the 4 hours chart technical readings present some bearish divergences, as price keeps crawling higher while momentum approaches the 100 level. Still, there are no signs of bearishness in the pair, and unless a break below 80.80 support, the downside will likely remain capped.
Support levels: 81.05 80.80 80.60
Resistance levels: 81.45 81.70 82.00
AUD/USD: Current price: 1.0412
Australian dollar recovered most of the ground lost against the greenback by the ends of last week, with the pair now above the 61.8% retracement of its latest daily fall. The hourly chart, shows 20 SMA converging with the Fibonacci level, offering short term support around 1.0390, while indicators hold in positive territory. In the 4 hours chart, a strong upward momentum remains intact, supporting more gains ahead, with 1.0450 now at sight. If local share markets follow their overseas counterparts, the pair may even attempt to extend its rally near 1.0500 before finding sellers today.
Support levels: 1.0390 1.0365 1.0330
Resistance levels: 1.0445 1.0480 1.0510