EUR/USD Current price: 1.3606
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The EUR/USD trades uneventfully around the 1.3600 level as the week starts, technically neutral. Nevertheless, the mild heavy tone seen for the past few weeks prevails, now supported by Portugal banking woes and fears it may extend through the region. The hourly chart shows price around a flat 20 SMA and indicators also horizontal around their midlines, giving no clear signs of short term direction. In the 4 hours chart the technical outlook is also neutral, with the extremes of the latest range at 1.3570 and 1.3650: some momentum outside the range may set some intraday direction, albeit the range should contain price this Monday.
Support levels: 1.3570 1.3530 13500
Resistance levels: 1.3620 1.3650 1.3680
EUR/JPY Current price: 137.91
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Stocks in the US recovered last Friday, putting a halt on yen strength, with the EUR/JPY however, unable to establish above the 138.00 mark. As a new day starts, the hourly chart shows price well below moving averages, and indicators losing upward potential right above their midlines. In the 4 hours chart technical readings stand in negative territory yet neutral, showing no current strength. As long as below 138.40, the downside is favored, with a break below 137.50, last week low, signaling a continued slide towards 136.60 price zone.
Support levels: 137.50 137.00 136.60
Resistance levels: 138.40 138.90 139.35
GBP/USD Current price: 1.7118
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Despite a late kneejerk on Friday, the GBP/USD holds its latest range, consolidating above the 1.7100 mark, with buyers surging on dips towards the figure. The hourly chart shows price below its 20 SMA and indicators heading slightly lower under their midlines, keeping the pressure to the downside. In the 4 hours chart the technical picture is quite similar, with a shy negative tone coming from technical readings, yet only with a break below 1.7060, 23.6% retracement of the latest bullish run, the downside will be favored towards the 1.7000/20 price zone.
Support levels: 1.7095 1.7060 1.7020
Resistance levels: 1.7150 1.7180 1.7220
USD/JPY Current price: 101.34
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The yen maintains its strength against the greenback, with the USD/JPY trading some 50 pips above the year low, contained in a tight range for most of last Friday. The hourly chart shows 100 SMA with a strong bearish slope crossing below 200 one both well above current price, with indicators aiming slightly higher in positive territory. In the 4 hours chart however, indicators present a mild bearish tone below their midlines, with moving averages also well above current price which keeps the pressure to the downside. Immediate support stands in the 101.20 level, and if below, the pair will likely extend its slide down to 100.60/70 price zone.
Support levels: 101.20 100.70 100.25
Resistance levels: 101.60 101.95 102.35
AUD/USD Current price: 0.9382
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The AUD/USD presents a weak tone in the short term, gapping lower in the opening, with price below moving averages and indicators heading lower in negative territory as seen in the hourly chart. In the 4 hours one, a mild bearish tone is also present, yet 200 EMA stands at 0.9370 a strong static support level, reinforcing its strength. A break below it may see the pair approaching 0.9330 area, while only above 0.9420 the pair may regain its upward strength, eyeing then 0.9460.
Support levels: 0.9370 0.9330 0.9300
Resistance levels: 0.9420 0.9460 0.9500
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