EUR/USD Current price: 1.3095View Live Chart for the EUR/USD
While Obama sends positive messages that in the end are vacuum, on the ongoing discussions about fiscal cliff, White House Chief of Staff William Daley said republican two-stage plan to raise the federal debt ceiling won’t pass Congress, leading to a dollar depreciation against all its rivals this Tuesday. The EUR/USD reached 1.3108 fresh 2-month high, trading most of the day nearby. Rumors of a Moody downgrade on Germany were later denied, and along with markets talks of decreasing probabilities of a Grexit, helped support the common currency. The short term bias remains bullish as seen in this hourly chart, with price still inside an ascendant channel and technical readings in positive territory. 1.3138 past October monthly high stands in the way of 1.3170 area, immediate target for current upward momentum. US session low converges with the base of the channel around 1.3070 making of the level the key support to follow over the next hours.
Support levels: 1.3070 1.3030 1.3000
Resistance levels: 1.3110 1.3140 1.3170
GBP/USD Current price: 1.6098View Live Chart for the GBP/USD (select the currency)
GBP/USD rose to 1.6129 this Tuesday, pushed by dollar weakness rather than self strength, as early data shown a quite disappointing Construction PMI in the UK. The hourly chart, shows indicators nearing their midlines as price stands below 20 SMA, giving a slightly bearish tone to the pair. However, a static support area is clear around 1.6085, followed by a stronger one at 1.6060, so unless a break below this last, the downside remains limited. In the 4 hours chart technical readings hold a positive tone, limiting the downside even further. Fresh highs above 1.6130 may see the pair quickly advancing towards 1.6170 next strong resistance area.
Support levels: 1.6085 1.6060 1.6025
Resistance levels: 1.6130 1.6170 1.6210
USD/JPY Current price: 81.88View Live Chart for the USD/JPY (select the currency)
Yen advanced against most of its rivals, testing the neckline of the double roof set at 82.80. The bearish pressure increases according to the hourly chart , with indicators in negative territory, and price developing below 100 and 200 SMA, both around 82.20 now and offering resistance in case of advances. In bigger time frames the bearish tone is also present, yet again 81.50 stands as immediate support as it represents the 61.8% retracement of the latest bearish run. Unless a recovery above 82.20, the downside is favored with a break below 81.50 offering room for a slide towards 80.80 strong static support zone.
Support levels: 81.50 81.10 80.80
Resistance levels: 82.00 82.20 82.60
AUD/USD: Current price: 1.0469View Live Chart for the AUD/USD (select the currency)
Australian dollar surged back to the 1.0480/90 area against the greenback, still unable to clearly break higher, yet holding pretty well to the area. The AUD/USD hourly chart shows indicators heading strongly down and nearing their midlines, although no follow trough comes from price. In the 4 hours chart the upward momentum remains strong yet only a clear breach above 1.0510, will favor more gains in the pair. On the other hand failure at the top of recent days’ range, exposes the 1.0400/30 area on a sentiment flip, quite unlikely today.
Support levels: 1.0460 1.0430 1.0400
Resistance levels: 1.0490 1.0510 1.0550
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