EUR/USD: market eyes Fiscal Cliff vote

EUR/USD Current price: 1.3250

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Market is all about closing books ahead of winter holidays, with majors mostly ranging and consolidating latest gains. The EUR/USD surged back to the 1.3290 area, finding support as expected around 1.3180 static support zone. Flat in the hourly chart, the US congress will vote on fiscal cliff later today around 00:30 GMT, and that’s the main risk factor for current session.  A positive vote may see risk sentiment soaring and therefore the pair surging, with 1.3385, past March high, as the natural target if price breaks above 1.3320. Further gains may be limited by profit taking, while a negative outcome may see risk aversion, and send EUR/JPY strongly down, dragging EUR/USD also lower. 1.3180 is main support followed then by the 1.3120 price zone.

Support levels: 1.3225 1.3185 1.3140 

Resistance levels: 1.3290 1.3320 1.3385

GBP/USD Current price: 1.6275

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The GBP/USD also stays in consolidate mode, trading right above 1.6270 static support level and 20 SMA in the hourly chart. Indicators lose momentum early Asia, but hold in positive territory, suggesting no time yet for deeper moves. The levels to watch are 1.6230 to the downside, and the year high around 1.6310 to the upside, as only a break of this may put the pair on track this Friday.

Support levels: 1.6230 1.6180 1.6135

Resistance levels: 1.6310 1.6345 1.6390

USD/JPY Current price: 84.34

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The USD/JPY bullish trend holds in place, with the pair finding buyers on dips towards the 83.80 static support level. Having tested its 100 SMA in the hourly chart, the pair bounced from the level early Thursday, and stands above 84.30 support. Above 84.60, the pair may attempt a run towards 85.00 today, from where a limited downside corrective movement could be expected. Dips below 83.80 may see the pair reaching 83.20 area, yet further falls seem unlikely today.

Support levels: 84.30 84.05 83.50 

Resistance levels: 84.60 84.90 85.20

AUD/USD: Current price: 1.0476

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The AUD/USD remains bearish, having extended the downside to a 1.0458 low amid continued gold sell off. The bearish momentum remains strong according to both, 1 and 4 hours chart readings, as indicators head strongly south in negative territory in both time frames. A long term ascendant trend line coming from 1.0148 is today around 1.0390, this month low and probable target of current bearish movement.

Support levels: 1.0460 1.0430 1.0390

Resistance levels: 1.0510 1.0540 1.0590
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