EUR/USD Current price: 1.0977
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The holidays in Europe and the US are keeping the FX board subdued, with majors consolidating in quite limited ranges this Monday. The EUR/USD pair has fell down to 1.0958, breaking below the 1.1000 level for the first time this May, amid doom Greek headlines, anticipating the country won't be able to meet its due payments to the IMF in June. The dollar surged on Friday, as higher inflation in the US boosted hopes of a soon rate hike in the country. Technically, the EUR/USD 1 hour chart maintains a negative tone, with the price a few pips above the mentioned level, and the technical indicators in negative territory, albeit lacking directional momentum amid the lack of volume. In the 4 hours chart the bias is also lower as the Momentum indicator heads south below 100 whilst the 20 SMA maintains is bearish slope above the current price.
Support levels: 1.0960 1.0910 1.0870
Resistance levels: 1.1000 1.1050 1.1100
GBP/USD Current price: 1.5467
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The GBP/USD pair failed to regain the 1.5500 level, as an early spike to 1.5506 resulted in a retracement down to fresh daily lows of 1.5456. Trading with a limited bearish tone, the 1 hour chart shows that the price is now below its 20 SMA, whilst the Momentum indicator turned lower around 100 and the RSI indicator maintains a bearish slope near oversold levels. In the 4 hours chart the price is approaching a critical support area at 1.5440, 50% retracement of its latest bullish run, and last week low, whilst the technical readings present a bearish tone that supports additional declines on a break below the mentioned Fibonacci level.
Support levels: 1.5440 1.5400 1.5340
Resistance levels: 1.5495 1.5535 1.5580
USD/JPY Current price: 121.51
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The USD/JPY extended its advance up to 121.77 during the Asian session, but gave up its intraday gains and hovers around its daily opening in the 121.50 price zone. Nevertheless, the 1 hour chart shows that the price stands well above a strongly bullish 100 SMA around 121.10, whilst the Momentum indicator aims to regain the upside around the 100 level and the RSI indicator hovers around 53. In the 4 hour chart, the technical indicators remain well into positive territory and aiming higher, supporting the ongoing bullish trend despite the lack of upward momentum.
Support levels: 121.10 120.85 120.45
Resistance levels: 121.60 122.10 122.50
AUD/USD Current price: 0.7827
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The AUD/USD trades around its daily opening, having set a daily low of 0.7802 earlier in the day. The downside is favored on a break below the critical figure, as the 1 hour chart shows that the indicators are turning south around their midlines, albeit limited due to the lack of volume. In the 4 hours chart, the price continues to extend below its 200 EMA, wilst the 20 SMA has crossed below it and maintains a strong bearish slope, supporting the general negative tone.
Support levels: 0.7800 0.7775 0.7750
Resistance levels: 0.7845 0.7890 0.7930
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