EUR/USD Current price: 1.0950
View Live Chart for the EUR/USD
The EUR/USD pair gave back half of its Wednesday's gains, and fell down to 1.0932 in the European morning, from where its currently bouncing softly ahead of the US opening. There were no macroeconomic news in the EU, and the calendar will be also light in the US, which means that market will likely trade on sentiment during the rest of the day. The dollar maintains a short term positive tone, yet worth remembering that, ever since the week started, the greenback has been under strong selling interest particularly during the American session. Anyway and from a technical point of view, the 1 hour chart presents a bearish tone, given that the price is currently below the 20 SMA, which converges with the 50% retracement of the latest monthly decline at 1.1000, while the technical indicators head slightly lower below their mid-lines. In the 4 hours chart, the technical indicators head lower but above their mid-lines, correcting extreme oversold readings, but with the price well above a bullish 20 SMA, suggesting the longer term upward potential remains intact.
Support levels: 1.0920 1.0880 1.0840
Resistance levels: 1.0975 1.1000 1.1045
GBP/USD Current price: 1.5124
View Live Chart for the GPB/USD
The Pound advanced up to 1.5201 against the dollar early in the European morning, in anticipation of the Bank of England monthly decision. The Central Bank however, maintained its economic policy unchanged, and if something, the Minutes showed that policymakers are concerned over falling oil prices keeping inflation subdued. The GBP/USD pair fell down to 1.5110, before finally finding some support, and is back below the daily descendant trend line broken towards the upside yesterday, currently at 1.5150, the immediate resistance. In the 1 hour chart, the price is also below a mild bearish 20 SMA, while the technical indicators hold in negative territory, marinating the risk towards the downside. In the 4 hours chart, the technical indicators head lower from overbought levels, whilst the price holds above a bullish 20 SMA, supporting a short term decline towards this last, now around 1.5080.
Support levels: 1.5110 1.5080 1.5035
Resistance levels: 1.5150 1.5200 1.5240
USD/JPY Current price: 121.42
View Live Chart for the USD/JPY
More losses expected below 121.00. The USD/JPY has tried to recover some of the ground lost earlier this week, but failed to do so and maintains a clear bearish tone, with sellers now surging on approaches to the 122.00 level. From a technical point of view, the 1 hour chart shows that the price is well below the 100 and 200 SMAs, with the shortest accelerating lower below the largest, whilst the technical indicators maintain bearish slopes below their mid-lines, in line with further declines should the price fall below the 121.00 figure. In the 4 hours chart, the technical indicators have resumed their declines after barely correcting extreme oversold readings, in line with the shorter term view.
Support levels: 121.00 120.70 120.30
Resistance levels: 121.80 122.20 122.60
AUD/USD Current price: 0.7292
View Live Chart for the AUD/USD
The Aussie soared against its American rival during Asian hours, with the pair up to 0.7334 after Australian employment data surprised to the upside. The economy added 71,4K new jobs against a 10K decline expected, whilst the unemployment rate shrank further, down to 5.8%. The pair corrected lower afterwards, but recovered its bullish trend, and the 1 hour chart shows that the price consolidates right below the 0.7300 level, with the 20 SMA heading strongly higher below the current level and the technical indicators consolidating near overbought levels. In the 4 hours chart, the upside is also favored, with dips down to 0.7240 now seen as buying opportunities.
Support levels: 0.7284 0.7240 0.7200
Resistance levels: 0.7335 0.7380 0.7415
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