EUR/USD Current price: 1.3067View Live Chart for the EUR/USD
Dollar managed to advance some this Wednesday against the euro, yet movement has barely been corrective, as dollar remains unable to gather self strength. The euro was hit today by a series of negative data, including another month of discouraging PMI’s, decreasing retail sales, a not so positive Spanish auction that put back on the table the need of a soon bailout and last but not least, a S&P downgrade of Greece to SD, selective default. The pair broke the base of the ascendant channel mid European morning, and entered a consolidative stage between 1.3058 and 1.3090 most of the US session, entering Asian one with an increasing bearish potential in the short term: the hourly chart shows price capped below 20 SMA as indicators head south below their midlines. As long as below 1.3100, the downside is favored with scope to test 1.3000 level ahead of ECB monetary policy decision.
Support levels: 1.3060 1.3030 1.3000
Resistance levels: 1.3100 1.3140 1.3170
GBP/USD Current price: 1.6087View Live Chart for the GBP/USD (select the currency)
The GBP/USD spent the day consolidating in a tight 40 pips range, trading near the bottom as Asian players come in, and presenting a slightly bearish tone in the hourly chart, as per price being capped below 20 SMA and indicators heading lower in negative territory. In the 4 hours chart technical readings turned flat, reflecting the lack of volume and direction. Expect the downside to remain limited unless a clear break below 1.6060 strong static support zone.
Support levels: 1.6060 1.6025 1.5990
Resistance levels: 1.6105 1.6130 1.6170
USD/JPY Current price: 82.46View Live Chart for the USD/JPY (select the currency)
The USD/JPY made an impressive recovery, back above the 82.30 area now immediate support. Still trading in range, the recovery needs to extend beyond recent highs of 82.85 to confirm the bullish continuation, although the pair will likely wait for upcoming US NFP data on Friday to post more interesting movements. The hourly chart shows an increasing bullish potential with indicators heading higher above their midlines and price well above 100 and 200 SMA which suggest a probable test of mentioned 82.85 price zone.
Support levels: 82.30 82.00 81.80
Resistance levels: 82.60 82.85 83.10
AUD/USD: Current price: 1.0454View Live Chart for the AUD/USD (select the currency)
The AUD/USD saw a limited slide as the pair was unable to take the 1.0480/90 static resistance level again. However, the fall was limited by 1.0430 static support zone, and the pair enters Asian session with a limited bearish tone in the hourly chart. In the 4 hours chart, price is finding support in a still bullish 20 SMA while indicators approach their midlines still holding in positive territory. The pair has found buyers around 1.0400 early this week, and only below 1.0370, next support, the bearish potential will be clearer towards the 1.0300 price zone.
Support levels: 1.0430 1.0400 1-0370
Resistance levels: 1.0490 1.0510 1.0550
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