EUR/USD Current price: 1.3345
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The EUR/USD soared above 1.3300 ahead of the US opening, buoyed on risk sentiment and disappointing US data. Despite stocks and commodities had barely moved today, the pair trades at levels not seen since April 2012, with an increasing bullish momentum in the hourly chart: price was unable to break below 20 SMA, momentum bounces from its 100 level, and RSI heads again north after correcting extreme overbought readings. In bigger time frames, indicators also head higher supporting the bias, with 1.3310 now acting as immediate support. Next strong resistance comes at 1.3370 area, March intraday highs and lows: once above, the path is quite clear towards 1.3485, past 2012 high.
Support levels: 1.3310 1.3280 1.3230
Resistance levels: 1.3370 1.3405 1.3450
GBP/USD Current price: 1.6143
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Pound lags against the dollar despite general risk appetite, weighted by negative UK data: early European morning, manufacturing and industrial production come well below expectations droving the pair lower. However, he 1.6100 level tested after the disappointing news, attracted buyers, and the pair recovered some ground. The upside still looks limited in the short term, with price struggling around a bearish 20 SMA and indicators in negative territory, with price being caped by 1.6170 strong static resistance level. In bigger time frames, technical readings maintain the positive tone, which suggests more range in the 1.6100/1.6170 area for today.
Support levels: 1.6130 1.6100 1.6065
Resistance levels: 1.6170 1.6200 1.6240
USD/JPY Current price: 89.11
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Unstoppable, the USD/JPY reached 89.33 as expected. The pair stands around 89.00 at the time being, after a limited correction from mentioned high. Short term readings turned bearish although price seems unable to follow: expect the downside to remain limited by 88.70 daily low and immediate static support. On the other hand, the a break above mentioned high will expose for the upcoming week the 92.50 level, next strong midterm resistance.
Support levels: 89.00 88.70 88.40
Resistance levels: 89.30 89.65 90.00
AUD/USD: Current price: 1.0566
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Having been unable to break 1.0600, the AUD/USD retraced to found support in the 1.0550 area, and presents a limited bearish tone according to the hourly chart: price is being capped by a flat 20 SMA, while momentum stands in negative territory. In the 4 hours chart, indicators head lower from overbought readings, still in positive territory which suggest current bearish movement is corrective. Still unless a break above barriers around 1.0600, the upside will remain limited for the rest of the day.
Support levels: 1.0550 1.0520 1.0490
Resistance levels: 1.0600 1.0660 1.0700
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