EUR/USD: dominated by bears

EUR/USD Current price: 1.3526

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The EUR/USD managed to regain the 1.3500 figure after posting a 5-month low of 1.3490 last Friday, having been then capped by 1.3535 short term static resistance. As a new week starts, the pair maintains the weak tone, with the hourly chart showing indicators heading higher above their midlines and 20 SMA with a strong bearish slope offering dynamic resistance also around mentioned 1.3535 level. In the 4 hours chart technical readings also present a mild bullish tone, supportive of an upward corrective movement towards 1.3570 former support and probable selling level if reached. Nevertheless the dominant trend is bearish, with 1.3476 this year low still being the critical support to break to confirm a stronger slide during the upcoming sessions.

Support levels: 1.3476 1.3440 1.3410

Resistance levels: 1.3535 1.3570 1.3620 

EUR/JPY Current price: 137.13

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The EUR/JPY established a multi month low of 136.70 early last Friday, trading some pips above it but with an overall negative tone particularly in the short term: the hourly chart shows 100 and 200 SMAs gaining bearish slope well above current price, while indicators stand flat around their midlines. In the 4 hours chart indicators corrected oversold readings but remain in negative territory, keeping the pressure to the downside. Above 137.50 the movement may extend towards 138.00 area, yet renewed selling pressure below 137.00 should lead to a continued slide with next support at 136.60

Support levels: 137.00 136.60 136.20

Resistance levels: 137.50 137.90 138.40

GBP/USD Current price: 1.7079

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The GBP/USD recovered from a monthly low of 1.7035, but failed around the 1.7100 figure, keeping a short term negative tone according to the hourly chart, as per price developing below a bearish 20 SMA and indicators retracing from their midlines. In the 4 hours chart a mild bearish tone is also present albeit 200 EMA stands around 1.7025, acting as key midterm support, as only a break below it will put bears in control. In the meantime, the upside seems limited by 1.7100, and it would take some steady gains above the level to recover up to 1.7150 strong static resistance zone.

Support levels: 1.7060 1.7025 1.6985 

Resistance levels: 1.7095 1.7120 1.7150

USD/JPY Current price: 101.34

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The USD/JPY consolidates in a tight range having shown little progress over the last 24 hours. Technically, the downside is favored with price standing below moving averages and indicators turning south yet in negative territory in the 1 hour chart, but with price also barely 50 pips away from the year low. In the 4 hours chart the bearish tone is firmer, albeit a break below 101.05 is now required to confirm a retest of the year low in the 100.70 price zone.

Support levels: 101.20 101.05 100.70

Resistance levels: 101.55 101.95 102.35 

AUD/USD Current price: 0.9399

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Australian dollar opens the week firmer, flirting with 0.9400 against the greenback. The hourly chart shows price extending above a bullish 20 SMA while indicators so far diverge with each other but both stand well into bullish territory. In the 4 hours chart a slightly positive tone comes from indicators, albeit price has been contained within 0.9330 and 0.9420 for most of this month, suggesting some further momentum above mentioned resistance is required to confirm a new leg up.

Support levels: 0.9370 0.9330 0.9300 

Resistance levels: 0.9420 0.9460 0.9500