EUR/USD Current price: 1.0631
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After the ECB meeting, the most interesting thing that happened was a protester attacking Mario Draghi with confetti. The Central Bank president left the economic policy unchanged, and as expected, it cheered the results of the ongoing QE over the economy, and if something, he said that the QE will go on until needed in regards of inflation. The EUR/USD ticks higher on dollar weakness, as US data disappointed: the New York manufacturing index fell to -1.19 against a 7.0 expected for April, whilst Industrial Production for March fell below expected. The EUR/USD 1 hour chart shows that the price advances above a bearish 20 SMA whilst the technical indicators aim higher, but remain below their mid-lines. In the 4 hours chart the technical indicators are bouncing from their mid-lines, whilst the price extended above a flat 20 SMA. If the price manages to extend beyond 1.0650, the pair will likely retest yesterday's highs in the 1.0700/10 region.
Support levels: 1.0600 1.0550 1.0510
Resistance levels: 1.0650 1.0710 1.0755
GBP/USD Current price: 1.4783
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The GBP/USD pair surges on weak US data, approaching to Tuesday's high. There were no fundamental news in the UK, so the pair is being sentiment driven. Technically the 1 hour chart shows that the price is finding short term support around its 20 SMA, whilst the technical indicators are crossing their mid-lines to the upside. In the 4 hours chart the pair presents a strong upward momentum, with the price advancing above its 20 SMA and the technical indicators aiming higher in positive territory. Nevertheless, a break above 1.4805 is required to confirm additional intraday gains, whilst a strong static resistance stands at 1.4840.
Support levels: 1.4760 1.4725 1.4680
Resistance levels: 1.4805 1.4840 1.4875
USD/JPY Current price: 119.31
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The Japanese yen strengthens against its American rival, with the pair posting fresh daily lows I the 119.20 region. Short term, the 1 hour chart shows that the price is developing below its moving averages, whilst the technical indicators are accelerating their decline below their mid-lines, all of which favors further declines. In the 4 hours chart the technical indicators maintain a strong downward momentum as the price extends below its moving averages, supporting the shorter term view.
Support levels: 119.20 118.80 118.50
Resistance levels: 119.45 119.90 120.20
AUD/USD Current price: 0.7616
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The Australian dollar advances above the 0.7600 level against the American dollar early in the US session, presenting a short term bullish tone albeit still below 0.7625, a critical Fibonacci resistance. The 1 hour chart shows that the technical indicators are aiming higher above their mid-lines, whilst the price advances above its 20 SMA. In the 4 hours chart however, the technical indicators are struggling around their mid-lines, whilst the price fights with a bearish 20 SMA, limiting the upside as long as the price holds below the mentioned level.
Support levels: 0.7590 0.7550 0.7520
Resistance levels: 0.7625 0.7660 0.7700
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