EUR/USD Current price: 1.2198
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The EUR/USD pair trades in a limited range this Wednesday, the last active day in Europe until next week. The holiday mood keeps volumes at their lows, something that would likely extend into the upcoming hours. There was no data in the EZ but in the US weekly unemployment claims decreased down to 280K, helping the greenback recover some ground. The EUR/USD pair surged to a daily high of 1.2219 on the back of some profit taking, but turned back below 1.2200 where it stands. The short term technical picture is mild bullish as the 1 hour chart shows price above its 20 SMA and indicators in positive territory, meaning further profit taking may help the pair higher. Nevertheless, the dominant bearish trend prevails and the first line of sellers may surge on approaches to 1.2240, former year low.
Support levels: 1.2160 1.2130 1.2100
Resistance levels: 1.2240 1.2285 1.2310
GBP/USD Current price: 1.5549
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The GBP/USD pair advances from in this thin Tuesday, hovering around its daily high of 1.5556 early US session. The 1 hour chart shows buyers surged on an intraday test of its 20 SMA, now offering immediate support around 1.5525, while indicators aim higher above their midlines. In the 4 hours chart however, indicators remain below their midlines, whilst 20 SMA maintains a strong bearish slope, heading lower above current price and acting as dynamic resistance at 1.5581.
Support levels: 1.5525 1.5485 1.5440
Resistance levels: 1.5556 1.5690 1.5615
USD/JPY Current price: 120.43
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The USD/JPY eased some early Asia, but traded flat ever since in a tight 10 pips range around current level. US stocks opened slightly higher, keeping the risk to the upside despite current lack of life. Technically, the 1 hour chart shows 100 SMA advanced further now providing support around 119.80, whilst indicators remain flat around their midlines. In the 4 hours chart indicators had turned lower from overbought levels but remain in positive territory, whilst the price holds above the 120.00 mark.
Support levels: 120.10 119.80 119.50
Resistance levels: 120.85 121.10 121.40
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