EUR/USD Current price: 1.3271
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Having posted a lower low daily basis at 1.3241, the EUR/USD trades pretty much unchanged intraday, hovering around its daily opening. Dollar momentum seems temporarily interrupted, with US indexes at record highs and US 10Y yields above 2.40%, giving high yields a breath. Technically however, the pair is far from suggesting a strong upward potential, with the 1 hour chart showing indicators flat above their midlines and price above a still bearish 20 SMA. In the 4 hours chart indicators maintain their bearish slope despite in oversold levels, supporting the shorter term view.
Support levels: 1.3250 1.3210 1.3170
Resistance levels: 1.3300 1.3330 1.3370
GBP/USD Current price: 1.6587
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Worse than expected Retail Sales and Public Finances in the UK keep GBP/USD around a 4 month low, despite the European session has been pretty uneventful when it comes to price action. Nevertheless, the pair maintains a bearish tone, at least in the short term, with the hourly chart showing indicators turning back south in negative territory after testing their midlines, and price stuck around an also bearish 20 SMA. In the 4 hours chart the technical stance is also bearish, with 1.6545, April this year low, as critical support to break to see further downward potential.
Support levels: 1.6545 1.6510 1.6470
Resistance levels: 1.6630 16680 1.6710
USD/JPY Current price: 103.75
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The USD/JPY eases some from a fresh high of 103.95, consolidating however near it early US opening. The hourly chart shows that while price barely shed 20 pips, momentum has corrected all of its overbought condition and losses downward potential around its midline, while RSI heads south supporting some further downward corrective move. In the 4 hours chart indicators turn lower but hold in extreme overbought levels, limiting the downward potential at the time being.
Support levels: 103.40 103.20 102.80
Resistance levels: 103.95 104.20 104.45
AUD/USD Current price: 0.9292
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The AUD/USD suffered a strong slide over Asian hours on the back of weak Chinese data, bouncing however from a low of 0.9236. Quickly approaching 0.9300, the hourly chart shows a clear upward potential that suggest a probable test of the 0.9330 strong static level. In the 4 hours chart however, 20 SMA maintains a bearish slope right above current price, while indicators lose upward strength below their midlines.
Support levels: 0.9260 0.9220 0.9180
Resistance levels: 0.9330 0.9370 0.9410
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