EUR/USD Current price: 1.3555
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The EUR/USD added over 100 pips today, holding near its daily high of 1.3562 early US session, and following a quite positive ADP and a strongly disappointing GDP in the US. Anyway, all excuse is a good excuse to buy the EUR against the dollar, and with stocks in positive territory along with gold, the pair is set to continue advancing: 1.3540 is now immediate support, although dips up to 1.3480 will hardly harm current trend. FED is next, and no surprises are expected in that front today, meaning after the initial noise, the pair will continue rising. The hourly chart shows indicators easing from extreme overbought levels while 20 SMA maintains a strong bullish slope and price consolidates at highs, supporting the upward bias.
Support levels: 1.3540 1.3510 1.3480
Resistance levels: 1.3580 1.3620 1.3660
GBP/USD Current price: 1.5771
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The GBP/USD aimed higher with US news, yet failed to overcome the 1.5800 level, stuck now around 1.5770 static support level. The hourly chart shows indicators aiming higher in positive territory, while price stands above 20 SMA, which suggest some upward momentum in the pair. However, further technical confirmation is required, and unless a break above 1.5820, buying is far from interesting in the pair. Lose of the 1.5740 support on contrary, will favor further falls towards 1.5700 first and 1.5660 later.
Support levels: 1.5740 1.5700 1.5660
Resistance levels: 1.5785 1.5820 1.5860
USD/JPY Current price: 91.16
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The USD/JPY suffered an initial kneejerk after US data, reaching 90.83 before quickly bouncing back higher. And with US stocks in green, the downside seems pretty well limited for now. The hourly chart shows indicators aiming lower still in positive territory, while 100 SMA stands around 90.70, offering short term support. In bigger time frames, the upward momentum eases, yet some consolidation is to be expected ahead of FED, and clearer definitions afterwards.
Support levels: 90.70 90.30 89.80
Resistance levels: 91.20 91.60 92.00
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