EUR/USD Current price: 1.0864
View Live Chart for the EUR/USD
The dollar is mixed across the board, with the EUR and the JPY advancing against its american rival, the first still buoyed after the latest ECB decision and the second being favored by reaper oil prices. The EUR/USD pair, however, consolidated in a well-defined range, below the 1.0880 level, where selling interest has been containing advances since last Friday. The final revision of the EU GDP for the third quarter matched previous readings, resulting at 0.3% and failing to attract investors. The pair retains the bullish tone in the short term, despite being limited by the mentioned resistance, the 38.2% retracement of the October/December decline, as in the 1 hour chart the price is above a flat 20 SMA whilst the technical indicators stand above their mid-lines. In the 4 hours chart, the technical indicators have completely erased the extreme readings from last week, and are currently horizontal, reflecting the lack of directional strength, whilst the price hovers a few pips below a strongly bullish 20 SMA. A clear advance above 1.0880 is required to confirm further gains with 1.0945 as tops for the day should the EUR gather momentum.
Support levels: 1.0835 1.0805 1.0780
Resistance levels: 1.0880 1.0910 1.0945
GBP/USD Current price: 1.4972
View Live Chart for the GPB/USD
The British Pound is under pressure this Tuesday, weighed by the continued decline in oil prices, as the commodity trades at fresh almost seven years lows. Earlier today, the UK released some mixed production data, with manufacturing readings resulting worse than expected, buy industrial data beating expectations. The GBP/USD pair broke below the 1.5000 figure and maintains a bearish tone ahead of the US opening, with the technical indicators heading sharply lower, despite being in oversold levels, and the price well below a bearish 20 SMA. In the 4 hours chart, the technical indicators also present a strong bearish momentum, supporting additional declines on a break below 1.4950, the immediate support.
Support levels: 1.4950 1.4920 1.4880
Resistance levels: 1.5010 1.5050 1.5090
USD/JPY Current price: 122.89
View Live Chart for the USD/JPY
Heading towards 122.20. The Japanese yen advanced after the release of a stronger-than-expected second estimate of Japanese GDP in Q3, with Real GDP growth revised upwards to an above trend annualized expansion of 1.0% from an initially reported contraction of -0.8%. The USD/JPY pair fell down to the 122.80 region, where it stands ahead of the US opening, pointing to extend its decline in the short term. In the 1 hour chart, the price has now extended below the 100 and 200 SMAs, while the technical indicators head south below their mid-lines, supporting further declines. In the 4 hours chart, the Momentum indicator is crossing its mid-line towards the downside, while the RSI indicator heads lower around 43 as the price extends below the 100 SMA, supporting the shorter term view.
Support levels: 122.60 122.20 121.80
Resistance levels: 123.00 123.40 123.75
AUD/USD Current price: 0.7200
View Live Chart for the AUD/USD
The AUD/USD pair extended its decline and is challenging the 0.7200 figure, as the Aussie was hit by the slide in commodities' prices. Despite thin markets, the pair has lost around 150 pips ever since the week started, and seems it could continue falling, as there is no technical sign of a change in the ongoing bearish trend. The 1 hour chart shows that the price is well below a bearish 20 SMA, while the technical indicators have lost their bearish strength but remain well below their mid-lines. In the 4 hours chart, the price is extending below its 200 EMA for the first time since mid November, while the technical indicators maintain strength bearish slopes, in line with a further declines on a break below 0.7170, the immediate support.
Support levels: 0.7170 0.7140 0.7110
Resistance levels: 0.7240 0.7290 0.7335
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