EUR/USD Current price: 1.3016

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Both the ECB and the BOE decided to left their economic policy unchanged, yet Draghi’s words triggered a round of risk aversion, as the ECB presented downward revisions on the Euro zone's GDP for 2012 and 2013. The dovish stance from the president sent EUR/USD below an ascendant trend line coming from 1.2740 currently offering resistance around 1.3040. The hourly chart shows an increasing bearish momentum, and price well below 20 SMA, which continues to favor the downside towards 1.3000 and 1.2970 upcoming supports. The pair however, may enter some static consolidation in a few hours, with volume decreasing ahead of tomorrows’ US NFP. 

Support levels:  1.3000 1.2970 1.2940

Resistance levels: 1.3040 1.3090 1.3130

GBP/USD Current price: 1.6106

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Pound remains range bound after the news, little changed intraday. Hourly chart shows indicators easing in positive territory, but 20 SMA keeps offering short term support around 1.6100. In the 4 hours chart indicators remain flat in neutral territory giving not much clues on direction. Still the upside remains favored as long as 1.6060 limits the downside, with a break above 1.6130 needed to confirm further advances. 


Support levels: 1.6060 1.6025 1.5990

Resistance levels:  1.6130 1.6170 1.6210 

USD/JPY Current price: 82.40

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The USD/JPY holds a positive tone as per trading above 82.30 immediate support. The hourly chart shows indicators flat around their midlines, yet price well above 100 and 200 SMA’s and aiming higher. In bigger time frames, technical readings maintain a bullish outlook, although lacking strength at the time being. Price needs to extend beyond 82.80 to confirm an upward continuation, and that won’t happen before US NFP tomorrow.

Support levels: 82.30 82.00 81.80


Resistance levels: 82.60 82.85 83.10

AUD/USD: Current price: 1.0491

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The AUD/USD tested 1.0503 and holds a strong bullish momentum in the hourly chart, still battling in the area to extend its gains. Trading at fresh 3-month high, price needs to breach 1.0510 area to confirm an extension towards 1.0550. The 4 hours chart shows a probable reversal candle underway, yet only if current candle closes below 1.0490 the pair may enter a downside corrective movement towards 1.0460 immediate support. 

Support levels: 1.0460 1.0430 1.0400

Resistance levels: 1.0510 1.0550 1.0600


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