EUR/USD Current price: 1.2479
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The EUR/USD pair lost the 1.2500 level during the European session, following mixed releases in the EZ, among which the most relevant resulted to be Draghi’s words before the finish parliament, pointing out QE is indeed available, albeit latest measures still need time to work out: in plain english, no action expected for next week coming from the ECB. German inflation readings also disappointed, printing 0.00% monthly basis, and diluting partially latest optimism regarding the economy. With the US closed today on Thanksgiving, there’s little to expect from majors during the rest of the day. Short term, the EUR/USD 1 hour chart shows price below its 20 SMA and indicators directionless below their midlines, while the 4 hours chart maintains the mild positive tone, with price recovering from a daily low of 1.2464 and above a bullish 20 SMA as indicators hold also lacking directional strength, above their midlines.
Support levels: 1.2440 1.2400 1.2360
Resistance levels: 1.2520 1.2555 1.2600
GBP/USD Current price: 1.5746
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The GBP/USD pair eased from a fresh 11-day high of 1.5825, now pressuring the top of these last 2-week range around 1.5740. With no local data, Pound slide has been attributed to dollar short term momentum after Draghi’s words. Technically, the 1 hour chart shows an increasing bearish potential, with price below its 20 SMA and indicators heading lower well below their midlines. In the 4 hours chart 20 SMA maintains its bullish slope currently around 1.5710, while indicators stand flat in positive territory. Further declines below 1.5740 should deny chances of a firmer advance rather than suggest a continued slide for today.
Support levels: 1.5740 1.5700 1.5660
Resistance levels: 1.5770 1.5825 1.5860
USD/JPY Current price: 117.54
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Yen advanced against the greenback, dragging USD/JPY to a daily low of 117.23, from where the pair bounced during the European morning. Still subdued, the 1 hour chart shows price now below 200 SMA while indicators aim higher below their midlines, limiting the upside. In the 4 hours chart indicators head lower having been rejected from their midlines, which maintains the bearish bias alive.
Support levels: 117.35 117.00 116.65
Resistance levels: 117.95 118.40 118.90
AUD/USD Current price: 0.8562
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Australian dollar recovered over Asian hours, reaching 0.8614 against the greenback, as local Private Capital Expenditures beat expectations, yet the dominant trend prevailed and sellers took their chances: the pair trades back in its mid 0.85, with the 1 hour chart showing price now hovering around a flat 20 SMA and indicators diverging from each other above their midlines. In the 4 hours chart however, indicators barely corrected oversold readings and turned back south in negative territory, while 20 SMA maintains its bearish slope, supporting the dominant bearish trend.
Support levels: 0.8530 0.8500 0.8470
Resistance levels: 0.8580 0.8620 0.8645
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