EUR/USD Current price: 1.3091

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EUR advance against the greenback extended today to 1.3106 so far, holding nearby ahead of the US opening. Dollar weakness is clear across the board, as market remains focused on US Fiscal cliff. For the short term, the EUR/USD hourly chart shows price still developing inside and ascendant channel, with indicators nearing overbought conditions and 20 SMA acting as dynamic support currently around 1.3065. 4 hours chart shows technical bullish readings also, with the pair targeting 1.3170, past September monthly high. Break below 1.3060, base of the channel, will deny the upward bias and see the pair falling back towards the 1.3000 price zone.  

Support levels: 1.3060 1.3030 1.3000 

Resistance levels: 1.3110 1.3145 1.3170

GBP/USD Current price: 1.6117

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Struggling around 1.6120 static resistance level, the GBP/USD maintains the bullish tone according to technical readings, as the hourly chart shows price finding support in a strongly bullish 20 SMA while indicators hold in positive territory. The 4 hours chart shows indicators heading higher in positive territory, and if 1.6130 is finally overcome, immediate target comes at 1.6175 area, past month high. The upside is favor even on dips towards 1.6065 strong static support, and only below this last the intraday bias may turn negative.

Support levels: 1.6095 1.6065 1.6040 

Resistance levels:  1.6120 1.6170 1.6210 

USD/JPY Current price: 81.82

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Yen advances against the greenback, testing recent lows around 81.80 at the time being. The area, stands as the neckline of a double roof established 100 pips higher in the 82.80 price zone. With the hourly chart showing an increasing bearish momentum, the level to watch comes slightly above current one, 81.50/60 price zone, where the pair has the 61.8% retracement of these last months’ slide.  A Break below should open doors for a continuation towards 80.80 before some buying interest surges back. 

Support levels: 81.50 81.10 80.80

Resistance levels: 82.00 82.30 82.60 

AUD/USD: Current price: 1.0475

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The AUD/USD surged back to the 1.0480/90 price zone despite the RBA actually cut rates past Asian session to 3.0% and probably will continue cutting on 2013. Defying a daily descendant trend line, the hourly chart shows indicators exhausted to the upside, and claiming for a downward correction, yet price holds steady near the highs. At current levels, a battle is going on between bulls and bears: a final break above 1.0510 should give the victory to buyers and send price towards 1.0550 in the short term, while fading below 1.0460 will deny the upside and see price aiming back towards the 1.0400/30 price zone. 

Support levels: 1.0460 1.0430 1.0400 1.0370

Resistance levels: 1.0490 1.0510 1.0550

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