EUR/USD Current price: 1.3037
The EUR/USD saw a 100 pips quick slide in this American afternoon, triggered by a strong upward momentum in greenback, as USD/JPY broke above 100.00. Regardless the wild moves across the board, the EUR/USD manages to hold above the base of this past months range, respecting the 1.30/1.32 levels. However, this move has definitely put bears back on alert mode, and further slides may come along the way, with a break below 1.2970, 38.2% retracement of the latest daily fall signaling a stronger midterm fall, eyeing first 1.2880 static support zone.
As for the short term, the hourly chart shows a strong bearish momentum with indicators heading south into oversold territory, while the 4 hours chart shows still plenty of room to go, as indicators head lower around their midlines. Short term sellers will try to catch the rally on pullbacks towards the 1.3050/80 price zone, yet as long as below this last, downside remains exposed.
Support levels: 1.3010 1.2970 1.2925
Resistance levels: 1.3050 1.3080 1.3115
EUR/JPY Current price: 131.02
EUR/JPY reached 131.75 in the heat of yen selloff, levels not seen since January 2010, although EUR weak nature put the pair back down towards current 131.00 area. The hourly chart shows price found support in its 100 SMA earlier today, well below current price now, around 129.60, while indicators retrace from extreme overbought territory aiming for a correction. Still former high around 130.40 is the level to watch as dips towards that area should see late buyers jumping into the bullish party. In bigger time frames, the upside is still favorer with 133.60 now at sight.
Support levels: 131.00 130.40 129.80
Resistance levels: 131.70 132.25 133.00
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