EUR/USD Current price: 1.3271
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Struggling around the 38.2% retracement of its latest bullish run, the EUR/USD maintains a heavy stance this Wednesday, having toped at 1.3320 area, 23.6% retracement of the same rally. Market is still pricing Junker’s words on an overvalued euro, while yen strength along with stocks weakness do the rest. For the short term, the hourly chart shows price below a bearish 20 SMA as indicators head south in negative territory; daily low so far has been set around 1.3250, so once below, the negative bias will get further confirmation, targeting then the 1.3180 area, next strong support. In the 4 hours chart technical readings show an increasing downward momentum, supporting the shorter term view.
Support levels: 1.3255 1.3220 1.3180
Resistance levels: 1.3320 1.3360 1.3400
GBP/USD Current price: 1.5988
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The GBP/USD blow trough the 1.5990 static support area, and so far failed to regain the 1.6000 psychological level. The pair presents a short term strong bearish tone, with indicators nearing oversold readings and 20 SMA gaining bearish slope above current price. In the 4 hours chart indicators head south below their midlines, accelerating lower also supporting a bearish continuation. The upside should now remain caped by 1.6120 to keep the short term downward pressure alive.
Support levels: 1.5950 1.5920 1.5880
Resistance levels: 1.6020 1.6060 1.6095
USD/JPY Current price: 88.28
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The USD/JPY extended its slide, reaching past the 61.8% retracement of its latest fall around 87.90, although bouncing slightly higher. However, the hourly chart shows price caped below 200 SMA offering dynamic resistance now around 88.30, while indicators hold in negative territory showing no aims of turning higher. In bigger time frames, indicators turned lower, with the daily chart showing RSI and Momentum still in overbought levels, yet pointing for a deeper correction. Daily close below mentioned Fibo support should expose the 86.80 area, next big support in the pair
Support levels: 87.90 87.50 87.10
Resistance levels: 88.30 88.70 89.00
AUD/USD: Current price: 1.0547
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The AUD/USD maintains past days range, although pressured lower according to the hourly chart: indicators grind lower in negative territory, while 20 SMA now caps the upside around 1.0555. The pair however, remains range bound, also reflected in the 4 hours chart that shows a technical neutral stance. Only below 1.0490 the bears will get control of the pair, with scope then for a ride towards 1.0430 price zone.
Support levels: 1.0520 1.0490 1.0450
Resistance levels: 1.0555 1.0580 1.0600
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