EUR/USD: mute around 1.1140

EUR/USD Current Price: 1.1131

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Month-end fixing alongside with poor US data sent the greenback lower across the board at the beginning of the US session, although the EUR/USD pair remained well limited below the 1.1200 figure, to end the day pretty much unchanged, around the 1.1130/40 region. At the end of the day, the dollar is mixed,  but mostly higher across the board. 

German data was again encouraging, with April Retail sales up by 2.3% compared to the same month a year before, and unemployment rate down to 6.1% in May. In the EU, however, inflation fell as expected by 0.1% according to May preliminary readings, down for a third month in the last four. In the US personal spending rose by 1.0% in April, the only good news of the day, as the Chicago   Business Barometer fell 1.1 points to 49.3 in May from 50.4 in April, the lowest level since February. Also, consumer confidence decline further in May, down to 92.6 from previous 96.0. 

The EUR/USD pair continues to lack directional strength and consolidating near its recent lows, and in risk of a downward movement, given that in the daily chart, the price is barely holding above the daily ascendant trend line coming November low, today at 1.1090. Additionally, and in the mentioned time frame, the 20 SMA heads sharply lower and aims to break below the 100 SMA, both far above the current level. Shorter term, the 4 hours chart maintains the neutral stance, with the price unable to advance beyond a mild bearish 20 SMA and the technical indicators hovering within negative territory. 

Support levels: 1.1120 1.1090 1.1040 

Resistance levels: 1.1160 1.1200 1.1245 

EUR/JPY Current price: 123.29

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The EUR/JPY pair surged up to 124.18 this Tuesday, its highest in three weeks, but reversed course in the American afternoon, as stocks plummeted and a Brexit poll showed the "leave" vote ahead, spurring risk aversion across the board. Now trading in the red, the sharp intraday decline has put the pair in risk of a downward move, given that in the 1 hour chart, is now barely holding above the 100 and 200 SMAs, whilst the technical indicators head south within bearish territory, indicating the pair may extend its decline, particularly on a downward extension below 123.00. In the 4 hours chart, the price is back below its moving averages, whilst the Momentum indicator is flat above its 100 line, and the RSI indicator heads lower around 50, in line with the shorter term view.

Support levels: 123.60 123.20 122.70

Resistance levels: 124.00 124.40 124.85

GBP/USD Current price: 14487

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The Pound was hit mid American session, by renewed fears of a Brexit, after new polls showed that  the "leave" vote is ahead in the EU membership referendum. A telephone poll from ICM/Guardian showed the 'leave' vote at 45% compared to 42% to 'remain' in the EU, while an online poll from the same firm showed 47% to leave and 44% to remain. The GBP/USD pair, which traded early Europe as high as 1.4724, plummeted to the current 1.4480 price zone, and seems poised to extend its decline, although some consolidation could be expected in the short term, given that in the 1 hour chart, the technical indicators have reached extreme oversold territory, and seem to be losing bearish steam. In the 4 hours chart, the price is below a bearish 20 SMA, whilst its currently breaking below the 200 EMA whilst the technical indicators head sharply lower within negative territory. The next support now comes at 1.4441, May 23rd daily low, with a break below it putting the pair in the path of testing 1.4250. 

Support levels: 1.4585 1.4550 1.4520

Resistance levels: 1.4655 1.4690 1.4730 

USD/JPY Current price: 110.58

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The USD/JPY pair turned south as fast as it previously advanced, erasing all of its Monday gains and extending down to a fresh weekly low of 110.51 where it stands by the end of the US session.  Risk aversion fueled yen's advance during the US afternoon, resulting also in a three digit slide in the Dow Jones Industrial Average.  Tepid US data also favored the Japanese currency, and is currently struggling around a major static level, the 110.60 region, in where the pair stalled multiple times ever since early February. The pair was rejected from a sharply bearish 100 DMA, having reached it earlier this week for the first time since mid January, which suggests the long term risk remains towards the downside. In the short term the 1 hour chart shows that the price is approaching its 100 SMA currently at 110.40, whilst the technical indicators maintain strong bearish slopes within negative territory, in line with further declines. In the 4 hours cart, the technical indicators are about to cross their mid-lines towards the downside, whilst the price is far above a bullish 100 SMA, currently at 109.50, the probable bearish target should the pair keep falling. 

Support levels: 110.40 110.00 109.50

Resistance levels: 110.90 111.30 111.65

AUD/USD Current price: 0.7225

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Upbeat Australian data released at the beginning of the day sent the Aussie to 0.7266 its highest in two weeks against the greenback. Building approvals surged by 3.0%, while Private Sector Credit figures showed that lending to local companies increased by 7.1% last April, on a year-on-year comparison, lifting hopes that the local economy will finally become less dependent on the mining sector. The AUD/USD pair retreated from the mentioned high, but hold on to gains and above the 0.7200 level at the end of the day, further signaling an interim bottom may have been reached in the pair. In the short term, the 1 hour chart the price is below a still bullish 20 SMA, whilst the technical indicators head south within negative territory. In the 4 hours chart, however, the pair presents a neutral stance, with the price falling back towards a flat 20 SMA around 0.7200, the Momentum indicator heading nowhere around its 100 level, and the RSI resuming its decline, now around 54. A break below the mentioned 0.7200 figure, should see the decline extending back to the 0.7145 low, and deny the mentioned suspected bottom, favoring then a continued decline towards the 0.7000 price zone. 

Support levels: 0.7190 .7145 0.7100 

Resistance levels: 0.7260 0.7295 0.7330