EUR/USD Current price: 1.2982
Having posted a 1.3027 4-week high, the EUR/USD is under pressure as the week comes to an end. And while the German Parliament approved the Greek bailout, bad macroeconomic news hit the wires since early Europe in both shores of the Atlantic, sending EUR/USD to a daily low of 1.2967 ahead of the US opening. The hourly chart, shows indicators heading lower near their midlines as current candle opened below 20 SMA, yet buyers seem determinate to defend the 1.2950/70 area for now. In the 4 hours chart technical readings lost upward potential yet price holds above 20 SMA currently around 1.2950. Unless a clear break below this last, the downside will likely remain limited today.
Support levels: 1.2970 1.2945 1.2910
Resistance levels: 1.3010 1.3040 1.3080
GBP/USD Current price: 1.6002
GBP/USD fell strongly from a fresh weekly high of 1.6061 after the news, breaking briefly below the 1.6000 mark before stabilizing around it. The strong fall left hourly chart clearly bearish, with indicators heading south below their midlines and price well below 20 SMA, yet again, 1.5990 offered intraday support, and only a clear break below will favor more slides. In the 4 hours the neutral stance since over the past few sessions is gaining bearish track as RSI moves below 50 and price stands below 20 SMA. The roof of the daily descendant channel is today around 1.6080, and gains above this last seem unlikely in the case Pound recovers the lost ground.
Support levels: 1.6020 1.5990 1.5950
Resistance levels: 1.6050 1.6080 1.6110
USD/JPY Current price: 82.65
Yen nose dive across the board early Asian session, as Shinzo Abe, leader of Japan’s main opposition Liberal Democratic Party urged again the Bank of Japan to pump unlimited cash into the financial system. The USD/JPY rose to 82.73, barely below the 82.82 monthly high, consolidating around the 78.6% retracement of this year fall. The hourly chart shows indicators flat in overbought territory, with no suggestion of a downside corrective movement ahead. In bigger time frames, the bullishness of the pair remains intact, pointing for a sooner break higher towards 84.17 this year top.
Support levels: 82.60 82.30 82.00
Resistance levels: 82.85 83.10 83.40
AUD/USD: Current price: 1.0404
The AUD/USD fell as low as 1.0401 after discouraging US news, trading at the lowest level of the week. Repeated failure around 1.0480/90 area, has finally weighed on buyers, and the pair enters US session looking bearish in the hourly chart, as indicators head south below their midlines and pair is being capped by a bearish 20 SMA. In the 4 hours chart technical readings also favor a downward continuation, with next static supports at 1.0370 and 1.0330, this last probable floor for today; bears will hold short term control as long as price stands below 1.0435 mark.
Support levels: 1.0370 1.0330 1.0300
Resistance levels: 1.0435 1.0480 1.0510