EUR/USD Current price: 1.1337
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Despite the day was fulfilled with fundamental data both shores of the Atlantic, the EUR/USD seems unable to gain directional strength, contained within yesterdays’ range. Trading slightly higher, the common currency was hardly affected by news German inflation fell for the first time in 5 years, confirming local deflation. True, earlier on the day unemployment rate in the number one country of the region fell to its lowest on record, at 6.5%. In the US, weekly unemployment claims fell sharply to 265K last week, a multi-year low that should have gave the greenback a bit more support considering NFP data next week. In fact, the USD is higher against most rivals, lower however against EUR and CAD. Technically, the 1 hour chart presents a mild bullish stance with indicators aiming higher above their midlines, and 20 and 100 SMAs almost together a few pips below the current level. In the 4 hours chart the price hovers around its 20 SMA that converges with the Fibonacci level at 1.1305, while indicators are also in neutral territory. A price extension either above 1.1365 or below 1.1205 is now required to define a clearer trend for the upcoming sessions.
Support levels: 1.1305 1.1250 1.1210
Resistance levels: 1.1365 1.1400 1.1440
GBP/USD Current price: 1.5129
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The GBP/USD pair trades below its daily opening, having posted a daily low of 1.5109 during the European morning. The pair has been finding short term sellers in the 1.5160 price zone, the neckline of a short term double roof established around 1.5520. The 1 hour chart shows that price is being capped by a bearish 20 SMA while indicators present a tepid bullish tone below their midlines. In the 4 hours chart the price hovers around a bullish 20 SMA whilst indicators are turning horizontal around their midlines, limiting chances of a strong decline. A break below the 1.5100/10 price zone is required to confirm a new leg south, aiming for a test of 1.5050, while above the mentioned 1.5160 level, the pair may regain the upside and retest recent highs.
Support levels: 1.5100 1.5070 1.5020
Resistance levels: 1.5160 1.5225 1.5265
USD/JPY Current price: 117.95
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The USD/JPY continues to trade within range, slowly gaining a short term bullish tone according to the hourly chart as per indicators heading higher above their midlines and price hovering around its 100 and 200 SMAs, both together in the 118.00 region. In the 4 hours chart however, indicators hold directionless in neutral territory, while moving averages maintain their bearish slopes above current levels, limiting chances of a stronger advance. US stocks are pretty much flat ahead of the opening, but will likely be the main driver for the pair, favoring a break lower particularly if index extend their recent decline.
Support levels: 117.60 117.30 117.00
Resistance levels: 118.00 118.40 118.90
AUD/USD Current price: 0.7790
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The AUD/USD fell sharply this Thursday, triggering stops below 0.7900 and accelerating towards a fresh over 5-year low of 0.7772. The heavy tone in gold that trades around $1,270/oz is adding to the negative tone of Aussie. The 1 hour chart shows indicators slightly exhausted in extreme oversold levels, whilst 20 SMA maintains a strong bearish slope well above current price. In the 4 hours chart technical readings maintain a strong bearish momentum despite RSI stands at 24, supporting further declines after a limited upward correction.
Support levels: 0.7700 0.7665 0.7630
Resistance levels: 0.7810 0.7860 0.7900
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