EUR/USD Current price: 1.2846
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The EUR/USD trades in a quiet range this Monday, midway between 1.2826 and 1.2867 ahead of US data in a few minutes. Draghi’s words so far are unable to affect the pair, with the ECB President stating that TLTRO was among expected, not concern on the small allotment of this first round. Technically, the hourly chart shows indicators above their midlines but far from suggesting upward strength, as price hovers around a flat 20 SMA. In the 4 hours chart indicators stand in neutral territory, while 20 SMA caps the upside around 1.2880: as long as below this last chances of a recovery seem quite limited, while risk to the downside increases on a price acceleration through 1.2810.
Support levels: 1.2810 1.2770 1.2840
Resistance levels: 1.2865 1.2910 1.2950
GBP/USD Current price: 1.6335
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The GBP/USD stands quite static below 1.6345 Fibonacci resistance, having been unable to extend beyond it despite a couple spikes higher: the hourly chart shows price attached to its 20 SMA and indicators flat around their midlines, reflecting the lack of short term direction. In the 4 hours chart 20 SMA stands at mentioned 1.6345 level reinforcing its strength, as indicators lose upward potential and turn lower above their midlines.
Support levels: 1.6300 1.6275 1.6220
Resistance levels: 1.6345 1.6410 1.6470
USD/JPY Current price: 109.04
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The USD/JPY has recovered the 109.00 figure, having found buyers around 108.65 daily low, and with a mild positive tone in the short term, as per the hourly chart showing price well above moving averages and indicators turning higher around their midlines, still quite neutral. In the 4 hours chart momentum regains the upside above 100 after erasing overbought readings, while RSI also corrected partially. The upside continues to be favored, with a break above recent high of 109.45 pointing for a test of critical 110.00 level, with buyers waiting on dips towards 108.50/60 price zone.
Support levels: 108.95 108.55 108.10
Resistance levels: 109.45 109.75 110.20
AUD/USD Current price: 0.8860
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The AUD/USD continues to shed ground having broke below 0.8900 support early European morning. The pair trades a few pips above its daily low with a strong bearish momentum coming from the hourly chart, as indicators head strongly south below their midlines while 20 SMA caps the upside around 0.8910. In the 4 hours chart the bearish momentum is even stronger, with RSI below 30 with no signs of turning higher at the time being. Sellers will likely surge on recoveries up to 0.8910, yet a break below 0.8830 support should lead to an extension of the dominant bearish trend.
Support levels: 0.8830 0.8800 0.8770
Resistance levels: 0.8880 0.8910 0.8950
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