EUR/USD Current price: 1.3103
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The common currency has lost the market favor this Thursday, trading near its daily low set so far at 1.3081 with the US opening. Profit taking after failure to take 1.3300 along with soft European data weight on the pair, which hourly chart shows certain basing at current levels, as indicators stabilized near oversold readings. The upside remains however limited, as 20 SMA in the mentioned time frame offers dynamic resistance around 1.3145. In the 4 hours chart the bearish momentum remains strong, still pointing for a test of next strong support at 1.3040.
Support levels: 1.3080 1.3040 1.3000
Resistance levels: 1.3110 1.3145 1.3190
GBP/USD Current price: 1.6170
View Live Chart for the GBP/USD (select the currency)
The GBP/USD trades in negative territory with an intraday low of 1.6143, and holding the bearish tone in the hourly chart, with price now limited below static resistance around 1.6175. Technical readings in the mentioned time frame had lost the downward momentum, yet there are no signs of a correction higher yet. On contrary, if 1.6140 gives up there is room for further slides, with 1.6065 then at sight. The 4 hours chart maintains a bearish tone, supporting the shorter term view.
Support levels: 1.6140 1.6010 1.6065
Resistance levels: 1.6175 1.6220 1.6250
USD/JPY Current price: 86.84
View Live Chart for the USD/JPY (select the currency)
With high yielders under pressure, the yen advances across the board, trading below 87.00 against the greenback, although as expected, downward corrective movements are quite limited. The hourly chart shows 100 SMA offering support around 86.50 in case of more slides, and short term buyers may attempt to halt the slide there, if price is reached. Indicators are slowly turning north in negative territory, showing not enough momentum yet. 4 hours chart shows indicators correcting overbought readings, supporting a short term slide, yet selling the pair is not recommended: dips continue to be buying opportunities in most of yen crosses.
Support levels: 86.50 86.25 85.95
Resistance levels: 87.30 87.60 87.95
AUD/USD: Current price: 1.0515
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Australian dollar found buyers around 1.0470 against the greenback, trading near the weekly high set yesterday around 1.0522. The commodity currency founds support in US positive data that keeps stocks bided despite the slow advance seen today. The hourly chart shows price finding short term support in a flat 20 SMA as indicators bounce north in their midlines, supporting more gains ahead. In bigger time frames and despite near overbought readings, technical indicators hold the bullish tone, giving scope for a test of strong static resistance around 1.0550 in the upcoming sessions.
Support levels: 1.0470 1.0440 1.0400
Resistance levels: 1.0520 1.0550 1.0600
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