EUR/USD: Pressured lower, 1.2820 likely

EUR/USD Current price: 1.2890

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The EUR/USD gapped lower at the weekly opening, standing right above 1.2880, static and immediate support level. Latest ECB meeting and better than expected US employment data, put the pair under pressure, fueling concerns over the European situation and easing those over US economic recovery. The hourly chart shows an increasing bearish tone, as indicators head south below their midlines and price stands well below 20 SMA. The pair may attempt to fill the gap as buying interest around 1.2880 has prove strong. However, failure to overcome 1.2940 or a break below 1.2880, will likely lead to a bearish day, with 1.2820 as possible bearish target for today.

Support levels:  1.2880 1.2845 1.2820

Resistance levels: 1.2940 1.2970 1.3000 

GBP/USD Current price: 1.6024

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The GBP/USD holds above 1.6000, yet bearish pressure increases in the pair as the hourly chart shows price aiming to break below a still bearish 20 SMA and indicators standing in negative territory. In the 4 hours chart technical readings are also biased lower, supporting the shorter term view. Immediate resistance comes at 1.6065 area, and as long as below, the outlook is negative for the pair, with a break below 1.5990 support pointing for a downward acceleration, targeting 1.5950 and 1.5910.

Support levels: 1.5990 1.5950 1.5910

Resistance levels: 1.6065 1.6090 1.6130

USD/JPY Current price: 82.56

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The USD/JPY set a third daily high in the 82.80 area past Friday, failing again to break above it yet holding a pretty strong bullish stance. Trading around 82.50, the hourly chart shows 100 SMA contained the downside around 82.25 now immediate support, while indicators head strongly north along with price. While still inside the 81.80/82.80 range, the upside is favored with 83.30 as immediate bullish target on a break above the top. 

Support levels: 82.25 82.00 81.80

Resistance levels: 82.60 82.85 83.10

AUD/USD: Current price: 1.0486

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Australian dollar remains range bound against the greenback, right below the 1.0510 price zone. The pair is finding some support in better than expected Chinese Industrial Production and Retail Sales data published earlier today, although the hourly chart shows no current strength. The upside however, continues to be favored and even dips towards 1.0400/30 area should be seen as buying opportunities. Clear break above recent highs around mentioned 1.0510 will open doors for an advance towards the 1.0600 price zone.

Support levels: 1.0460 1.0430 1.0400

Resistance levels: 1.0510 1.0550 1.0600

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