EUR/USD Current price: 1.3395
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Dollar trades lower across the board and despite weak early European data, short term affected by US weekly unemployment claims that rose up to 311K for the week ending Aug 8th. The EUR/USD trades near its daily high of 1.3403, and with the hourly chart showing price advancing above its moving averages while indicators head north in positive territory, supporting the upward strength. In the 4 hours chart price advances above its 20 SMA that remains flat around 1.3370, while momentum grinds higher above its midline, supporting the shorter term view.
Support levels: 1.3370 1.3330 1.3295
Resistance levels: 1.3400 1.3440 1.3485
GBP/USD Current price: 1.6689
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The GBP/USD bounces from a fresh multi-month low of 1.6657, but shows little follow through, and maintain the overall negative stance, as the hourly chart shows indicators corrected all of the extreme oversold readings and momentum even reached its midline, while price barely advanced a few pips. In the 4 hours chart indicators hold in oversold levels, with RSI turning back south, diminishing chances of an upward correction, while 20 SMA stands at 1.6760 offering ultimate intraday resistance.
Support levels: 1.6650 1.6620 1.6580
Resistance levels: 1.6695 1.6730 1.6760
USD/JPY Current price: 102.36
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The USD/JPY remains mute, having however posted a higher high daily basis of 102.65. The hourly chart shows indicators crossing their midlines down but with no actual strength, as price finds support in its 200 SMA, currently at 102.30. 100 SMA in the same time frame grinds higher approaching 200 one, which should help limit the downside. In the 4 hours chart indicators turned south but hold above their midlines, while moving averages maintain their bullish slopes below current price, also keeping the downside contained.
Support levels: 102.30 101.95 101.60
Resistance levels: 102.80 103.10 103.45
AUD/USD Current price: 0.9318
View Live Chart for the AUD/USD
Australian dollar maintains the positive tone, with the AUD/USD holding above the 0.9300 mark, but still unable to break clearly above 0.9330 strong static resistance level. The hourly chart shows 20 SMA around the 0.9300 figure, offering some intraday support while indicators stand in positive territory, albeit lacking clear strength. In the 4 hours chart the technical picture is also positive but with a limited upward momentum, supporting the need of a clear break above mentioned resistance before a new leg up.
Support levels: 0.9300 0.9260 0.9220
Resistance levels: 0.9330 0.9370 0.9410
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