EUR/USD Current price: 1.1362
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The EUR/USD advanced some following the European opening, reaching so far a daily high of 1.1386, from where it retreated. European stocks surged some amid a tepid recovery in commodities, but overall, the market remains lacking clear direction. European data resulted disappointing, with German PPI down 2.1% in September, compared to a year before, whilst the EU Current Account surplus resulted at €17.7B, whilst July data was revised higher, from €22.6B to €25.6B. In the US housing data came out mixed, with housing starts surpassing expectations and reaching 1.206M in September, while Building Permits were less than expected and previous month number, coming out at 1.103M.
The EUR/USD pair 1 hour chart shows that the price continues retreating from its 100 SMA, but is far above a bullish 20 SMA, currently around 1.1340, whilst the technical indicators are turning south, but still well above their mid-lines, limiting chances of a stronger decline. In the 4 hours chart, the price is holding above a bearish 20 SMA, whilst the technical indicators lack directional strength in neutral territory. Later on today, FED's chair, Janet Yellen, will deliver some, brief remarks at the Labor Hall of Honor Induction Ceremony, in Washington DC, whist two other FED members will also hit the wires, Dudley and Powel, all of them under scrutiny in search for rate hike clues.
Support levels: 1.1340 1.1310 1.1280
Resistance levels: 1.1385 1.1420 1.1460
GBP/USD Current price: 1.5470
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The Pound advanced up to 1.5505 against the greenback, but once again met selling interest around the critical figure, and continues consolidating a handful of pips below it. BOE's Governor Carney testimony on the Bank of England bill is hardly affecting the pair, as so far, nothing new has come to light. Technically, the 1 hour chart shows that the price is moving back and forth around a horizontal 20 SMA, whilst the technical indicators are presenting tepid bearish slopes around their mid-lines. In the 4 hours chart, the technical outlook is also neutral, with the technical indicators flat and the price a couple of pips above a directionless 20 SMA.
Support levels: 1.5445 1.5415 1.5380
Resistance levels: 1.5505 1.5530 1.5565
USD/JPY Current price: 119.72
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The USD/JPY pair trades near its daily high of 119.77 ahead of the US opening, having advances on the back of improved market's sentiment. Nevertheless, the pair is far from signaling a more sustainable move, still trapped in its usual range. Short term, the 1 hour chart presents a mild positive tone, given that the price is above its 100 and 200 SMAs, whilst the technical indicators head higher above their mid-lines. In the 4 hours chart, the price has reached its 100 SMA, while the Momentum indicator has bounced from near its 100 level and the RSI indicator heads higher around 61, in line with additional gains. Should the dollar extend its rally, the pair can advance up to 120.35, the 50% retracement of its latest weekly decline and a major resistance level, as the pair has been trading below it ever since October 7th. Stops above it are probably large, yet there are little chances they can be triggered some time today.
Support levels: 119.35 118.90 118.55
Resistance levels: 120.00 120.35 120.70
AUD/USD Current price: 0.7280
View Live Chart for the AUD/USD
The AUD/USD pair advanced during the Asian session, boosted by the latest RBA Minutes, showing that the Central Bank is in no rush to cut rates. The pair however, remained once again limited by selling interest around the 0.7300 level. Technically, the 1 hour chart shows that the price are losing their upward strength above their mid-lines, but that the price is well above a bullish 20 SMA. In the 4 hours chart, the price was unable to advance beyond a bearish 20 SMA, albeit holds nearby, whilst the technical indicators lack directional strength around their mid-lines.
Support levels: 0.7240 0.7210 0.7170
Resistance levels: 0.7290 0.7335 0.7380
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