EUR/USD Current price: 1.3283
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The EUR/USD extended its decline so far today to 1.3274, consolidating below the 1.3300 figure ahead of US opening. Dollar strength along with another round of weak European data supported the already bearish trend, with the pair now consolidating around its year lows ahead of FED monetary policy meeting Minutes. Technically the hourly chart shows 20 SMA with a strong bearish slope above current price, albeit indicators are slightly exhausted in oversold levels. Nevertheless, price seems to have no aims of correcting higher, while indicators in the 4 hours chart maintain a strong bearish momentum that support a continued decline.
Support levels: 1.3250 1.3210 1.3170
Resistance levels: 1.3300 1.3330 1.3370
GBP/USD Current price: 1.6643
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The GBP/USD jumped up to 1.6678 after BOE Minutes showed 2 out of the 9 members voted for a rate hike as soon as this month. Considering latest dovish tone coming from authorities, it was a positive surprise, yet not enough to revert the bearish tone of the pair: the hourly chart shows indicators losing upward strength above their midlines, while price holds steady above a flat 20 SMA. In the 4 hours chart latest spike higher failed around its 20 SMA while indicators turned back south in negative territory after correcting oversold readings, all of which supports the dominant bearish tone. Furthermore, the pair is unable to firmly establish itself above the 200 DMA, at 1.6650, adding to the negative outlook in the midterm.
Support levels: 1.6610 1.6580 1.6545
Resistance levels: 1.6650 1.6700 1.6740
USD/JPY Current price: 103.30
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The USD/JPY set a fresh high at 103.40 and consolidates right below it this Wednesday, maintaining the overall bullish tone: the hourly chart shows price well above its moving averages, while indicators stand flat in overbought levels, with buyers now surging on approaches to 103.20. In the 4 hours chart indicators are losing some of their upward strength but hold in overbought territory and far from suggesting a downward correction in the short term. As long as above 102.80, the broken descendant trend line coming from this year high, the upside is favored towards the 103.70/80 area, next static resistance zone.
Support levels: 103.20 102.80 102.45
Resistance levels: 103.40 103.75 104.10
AUD/USD Current price: 0.9297
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The AUD/USD aims to recover some ground after falling down to 0.9278, still trading below the 0.9300 level. The hourly chart shows price struggling to overcome its 20 SMA, while indicators stand flat around their midlines, showing little upward strength at the time being. In the 4 hours chart the pair maintains a mild bearish tone, with indicators below their midlines and 20 SMA above current price, pointing to a limited recovery before next slide.
Support levels: 0.9260 0.9220 0.9180
Resistance levels: 0.9330 0.9370 0.9410
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