EUR/USD Current price: 1.1029
View Live Chart for the EUR/USD
Technically, the EUR/USD pair 1 hour chart shows that the price is hovering around its 20 SMA while the technical indicators lack directional strength right above their mid-lines, giving no clear clues on what's next for the price. In the 4 hours chart, the price holds above a bearish 20 SMA, and the Momentum indicator continues retracing from overbought territory, but the RSI indicator turned higher around 52, limiting the downside, but still unable to confirm additional advances. The pair has a strong resistance around 1.1085, and it will take a clear advance beyond it to confirm additional gains during the upcoming sessions.
Support levels: 1.0960 1.0920 1.0880
Resistance levels: 1.1050 1.1085 1.1120
GBP/USD Current price: 1.5469
View Live Chart for the GPB/USD
The GBP/USD pair jumped to a daily high of 1.5496 following the release of better-than-expected manufacturing data in the UK, as the final manufacturing PMI in October resulted at 55.5, well above the expected 51.3. Nevertheless, selling interest around the 1.5500 once again rejected bulls, and the pair retreated some 40 pips afterward. Technically, the 1 hour chart shows that the price remains well above its 20 SMA that anyway has lost its upward strength, while the RSI indicator retraces form overbought levels, and the Momentum indicator holds directionless above 100. In the 4 hours chart, the price has advanced well above a bullish 20 SMA, while the technical indicators are giving some signs of bullish exhaustion near overbought levels, limiting the upside.
Support levels: 1.5415 1.5375 1.5330
Resistance levels: 1.5500 1.5540 1.5585
USD/JPY Current price: 120.55
View Live Chart for the USD/JPY
Flat daily basis, downside still favored. The USD/JPY pair recovered from an early dip down to 120.25 and trades flat around its daily opening. The Japanese Yen strengthened during the Asian session as local share markets fell, with the pair turning higher in Europe, as equities in the Old Continent present a better tone. Nevertheless, the 1 hour chart shows there's no room for advances, as the price stalled around its 100 SMA, whilst the technical indicators turned lower around their mid-lines. In the 4 hours chart, the 100 and 200 SMAs are flat around 120.00, while the technical indicators turned south in negative territory after approaching their mid-lines, maintaining the risk towards the downside. The release of US manufacturing data can imprint some life to the cross, although gains seem limited by 121.00 for this Monday.
Support levels: 120.00 119.70 119.35
Resistance levels: 121.00 121.45 121.80
AUD/USD Current price: 0.7142
View Live Chart for the AUD/USD
The AUD/USD pair ranges around its opening level, with investors in wait-and-see mode ahead of the upcoming RBA economic policy meeting at the beginning of the upcoming Asian session. The latest inflation data, much worse-than-expected in Australia, has sent speculators to price in a dovish stance for this meeting, and even the possibility of the Central Bank putting back on the table a rate cut for the upcoming months. Technically, the 1 hour chart presents a neutral stance, with the price moving back and forth around a horizontal 20 SMA and the technical indicators going nowhere around their mid-lines. In the 4 hours chart, the upside seems more constructive, as the price holds well above its 20 SMA whilst the technical indicators head north above their mid-lines, supporting additional gains on a recovery above 0.7160, the immediate resistance.
Support levels: 0.7100 0.7065 0.7020
Resistance levels: 0.7160 0.7195 0.7240
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