EUR/USD Current price: 1.3419
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The high expectations investors had ahead of payrolls, resulted in a dollar setback after the US added “just” 209K new jobs last month. Unemployment rate also ticked higher, up to 6.2%, and after the initial crazy spikes, the EUR/USD is up in correction mode: price approaches 1.3430, 200 SMA in the 1 hour chart and 23.6% retracement of the latest bearish run from 1.3639 to 1.3368 this week low. In the same time frame indicators present a strong upward momentum, while the 4 hours chart shows price above its 20 SMA and indicators about to cross their midlines with a strong upward slope. The critical short term level to break to confirm further advances is 1.3440, level that contained the upside for most of this week.
Support levels: 1.3405 1.3370 1.3335
Resistance levels: 1.3440 1.3475 1.3500
GBP/USD Current price: 1.6834
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The GBP/USD remains under pressure, having at least halted its early slide trigger by a mild weak UK Manufacturing PMI reading. The hourly chart shows price was unable to extend beyond 1.6350, with 20 SMA maintaining a strong bearish slope a few pips above and indicators holding near oversold levels. In the 4 hours chart technical readings maintain a strong bearish tone, keeping the pressure to the downside. Renewed selling pressure below 1.6815, should lead to further falls into next week.
Support levels: 1.6815 1.6770 1.6735
Resistance levels: 1.6850 1.6880 1.6920
USD/JPY Current price: 102.66
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The USD/JPY stands at fresh daily lows with US opening, heading towards 102.35 immediate support. The hourly chart shows indicators gaining bearish momentum and 100 SMA around 102.40, offering some intraday support in case of further slides. In the 4 hours chart indicators turned lower from overbought territory, also gaining bearish strength and supporting the shorter term view.
Support levels: 102.35 101.95 101.60
Resistance levels: 103.10 103.40 103.80
AUD/USD Current price: 0.9311
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Australian dollar advanced against the greenback with the news, but stalled a few pips below 0.9330 strong static resistance area. The hourly chart shows price above its 20 SMA and indicators heading higher in positive territory, albeit long upward shadows in candles suggest buyers are still containing the upside. In the 4 hours chart technical readings maintain a bearish tone, with 0.9260 as critical support to break to see a downward extension in the midterm.
Support levels: 0.9300 0.9260 0.9220
Resistance levels: 0.9330 0.9370 0.9420
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