EUR/USD Current price: 1.3598
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The US employment data is finally out, showing strong upward revisions on previous months, yet an increase on unemployment rate to 7.9%. Initial market reaction saw dollar weaker, but as US opens dollar is stronger across the board, at least temporarily, more on profit taking than on self strength. The EUR/USD is correcting lower after the news, approaching 1.3600 level immediate support. The hourly chart shows price aiming to break below 20 SMA while indicators correct extreme overbought readings. 4 hours chart shows the same picture, with a break below 1.3590/1.3600 area seeing the pair down up to 1.3550 without really affecting the dominant trend. In the long ride, the upside continues favored and once back above 1.3640, the pair may attempt to retest the highs.
Support levels: 1.3595 1.3550 1.3510
Resistance levels: 1.3625 1.3660 1.3700
GBP/USD Current price: 1.5786
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The Pound quickly changed bias as per self weakness, with the GBP/USD trading back below 1.5800. Having failed to overcome 1.5870 area, 38.2% retracement of its latest fall earlier this week, the pair seems ready to resume the downside, quickly approaching 1.5770 support. The hourly chart shows bearish momentum accelerating, anticipating more falls ahead, while bigger time frames also show indicators heading south still in positive territory. If 1.5770 support gives up, pair may revisit the 1.5660 area next week.
Support levels: 1.5770 1.5740 1.5700
Resistance levels: 1.5820 1.5870 1.5910
USD/JPY Current price: 91.98
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The USD/JPY eased some after the news, after toping around 92.28 earlier today. The hourly chart shows a short term bearish tone, although price holds above 91.80 area immediate short term support. As long as the level holds, there’s no scope for a deeper correction, while higher highs may be posted later today.
Support levels: 90.80 91.40 91.10
Resistance levels: 92.05 92.30 92.50
AUD/USD: Current price: 1.0402
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The AUD/USD surged after the news, failing to settle above the 1.0420/30 resistance zone. The hourly chart shows price back below 20 SMA, as the pair resumes its previous trend, while indicators still head north, with momentum still below 100. In the 4 hours chart however, the pair was unable to overcome a bullish 20 SMA while still limiting the upside and supporting the midterm bearish tone. Break back below 1.0380 will open doors for fresh daily lows today.
Support levels: 1.0380 1.0330 1.0300
Resistance levels: 1.0425 1.0470 1.0500
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