EUR/USD Current price: 1.3261
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The EUR/USD surged on several risk appetite boost to risk appetite, given by ECB and Japanese PM Shinzo Abe: early Europe, Draghi down talked rate cuts for the near future, sending the pair to 1.3200. Japan Abe did the rest, by saying he wants the BOJ to start targeting unemployment besides inflation, sending EUR/JPY to 117.90 today and therefore, helping EUR/USD reach 1.3260 area. Early Asia, the pair consolidates near its highs, looking extremely overbought in the hourly chart yet with indicators still heading higher, far from suggesting current trend is over. Immediate support comes at the 78.6% retracement of its latest slide around 1.3230, and 1.3300 of course, is the key resistance to overcome to confirm more gains not only in the short term. 4 hours chart shows a strong upward momentum, although some profit taking ahead of the weekend may see limited advances in the pair this Friday.
Support levels: 1.3230 1.3190 1.3150
Resistance levels: 1.3300 1.3340 1.3370
GBP/USD Current price: 1.6169
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The GBP/USD also gained on sentiment improvement, reaching a fresh weekly high of 1.6178, also entering Asian session overbought according to the hourly chart. In bigger time frames, the pair presents a double bottom around 1.6000, and today the pair breached the neck line around 1.6130, which opens scope for and advance towards 1.6260 area now, a 130 pips run. As long as above mentioned neckline then, the upside is favored. Bigger time frames show indicators heading higher in positive territory, supporting the shorter term view.
Support levels: 1.6130 1.6100 1.6065
Resistance levels: 1.6170 1.6200 1.6240
USD/JPY Current price: 88.91
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As expected, the USD/JPY extended its bullish trend regardless top calls and extreme overbought readings reached last week, reaching today already 89.03. While the hourly chart supports more gains, and lacks signs of retracements, there is a strong static resistance level around 89.30/40, from where the pair may retrace if reached. Still dips are seen as buying opportunities and if the level is finally taken, next big target comes at 92.50 price zone.
Support levels: 88.50 88.10 87.70
Resistance levels: 89.00 89.45 89.90
AUD/USD: Current price: 1.0592
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The AUD/USD trades a few pips shy of the 1.0600 barrier, with the hourly chart showing RSI turning flat in overbought levels, and momentum easing some. 20 SMA continues heading higher below current rice while price shows no aims to fall for now. Later today Chinese PPI and CPI will bring some action again to the pair, and encouraging readings may then see the pair finally surging above mentioned barrier, and extend towards next resistance around 1.0660. Profit taking is also possible, yet only below 1.0550 the pair can turn intraday bearish.
Support levels: 1.0580 1.0550 1.0520
Resistance levels: 1.0600 1.0660 1.0700
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