EUR/USD Current price: 1.2940
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The EUR/USD maintains the tight range, having been rejected from 1.2970 daily high. Trading in a 100 pips range for eighth day in a row, the hourly chart shows price hovering around 20, 100 and 200 SMAs, all together in a 10 pips range which reflects the total lack of directional strength, while indicators remain flat around their midlines. In the 4 hours chart price hovers around its 20 SMA while indicators stand in positive territory, also directionless. If something, FED meeting on Wednesday can be the trigger market is waiting for to decide whether to resume the trend or begin a recovery.
Support levels: 1.2910 1.2870 1.2835
Resistance levels: 1.2950 1.2990 1.3045
GBP/USD Current price: 1.6208
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The GBP/USD suffered an early kneejerk down to 1.6160, even before a weak UK CPI reading took of pressure over the BOE over a sooner rate hike. The pair however recovered some ground, trading now above 1.6190, 23.6% retracement of this month fall, with the hourly chart showing price pressuring 1.6200 area with 20 SMA right above it and indicators still in negative territory. In the 4 hours chart the overall bias is bearish according to technical readings, limiting chances of a stronger recovery.
Support levels: 1.6190 1.6150 1.6115
Resistance levels: 1.6250 1.6280 1.6320
USD/JPY Current price: 107.10
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The USD/JPY presents a mild bearish tone, with the pair pressuring 107.00 support area, yet with indicators showing no actual strength at the time being. Price in this last time frame, struggles around its 100 SMA so far providing some weak support as price is being unable to pick up from it. In the 4 hours chart indicators turned lower with momentum entering negative territory, adding some to the bearish pressure, yet as long as 106.80 holds, the downside seems limited.
Support levels: 106.80 106.50 106.10
Resistance levels: 107.40 107.90 108.20
AUD/USD Current price: 0.9036
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The AUD/USD advances within range, with a daily high set at 0.9052 early Asia, and a low at 0.8988 early Europe. The 1 hour chart shows price a few pips above a flat 20 SMA and momentum around 100, showing no actual strength. In the 4 hours chart indicators correct from oversold levels yet remain in negative territory, while 20 SMA maintains a strong bearish slope above current price, which helps keep the upside limited.
Support levels: 0.8990 0.8960 0.8920
Resistance levels: 0.9050 0.9075 0.9110
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