EUR/USD Current price: 1.3387
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The EUR/USD broke above the roof of the daily descendant channel early Europe, but failed to extend its rally beyond 1.3400 and holds around the level, partially losing its upward potential. In the short term, the hourly chart shows price contained by a bearish 200 SMA, with 20 SMA heading higher below current price and indicators turning flat in positive territory. In the 4 hours chart technical readings stand also in positive territory losing upward strength, suggesting selling interest around the critical level. Nevertheless stronger resistance stands in the 1.3430/40 price zone, and it will be only in the unlikely case of a run above it that the pair will confirm the bullish mode.
Support levels: 1.3360 1.3335 1.3295
Resistance levels: 1.3435 1.3475 1.3500
GBP/USD Current price: 1.6791
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Pound extends its decline against the greenback, trading below the 1.6800 figure first time in over 2 months. Technically, the GBP/USD hourly chart shows a clear bearish potential, with 20 SMA heading lower and acting as dynamic resistance, and indicators heading south below their midlines. In the 4 hours chart RSI accelerates south below 30, while the rest of the technical readings also support a bearish continuation, with some stops now below 1.3770 and a break below it should see a downward acceleration towards 1.6700/30 price zone.
Support levels: 1.6770 1.6730 1.6695
Resistance levels: 1.6820 1.6860 1.6895
USD/JPY Current price: 101.88
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The USD/JPY recovers some ground, having been as low as 101.50 during Asian hours as risk aversion took over local markets after US President Barack Obama authorized airstrikes in Iraq. The pair however, seems unable to regain the 102.00 level, so far briefly tested early US session. The hourly chart shows moving averages well above current price, with 100 one accelerating below the 200 around 102.35, offering further resistance. Indicators in the mentioned time frame hold below their midlines, while in the 4 hours chart the technical picture remains bearish.
Support levels: 101.60 101.20 100.80
Resistance levels: 102.00 102.35 102.80
AUD/USD Current price: 0.9272
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The AUD/USD posted a lower low for the week of 0.9237 from where it bounced, contained by a daily high of 0.9282. The hourly chart shows price retracing towards its 20 SMA while indicators turn lower still in positive territory, not yet confirming a bearish run. In the 4 hours chart 20 SMA maintains a strong bearish slope acting as dynamic resistance around 0.9290, while indicators stand directionless in negative territory.
Support levels: 0.9260 0.9220 0.9180
Resistance levels: 0.9290 .9330 0.9370
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