EUR/USD Current price: 1.0841
View Live Chart for the EUR/USD
The dollar maintains a strong positive tone heading into the US session, with the EUR/USD pair having extended its decline down to 1.0830, a fresh weekly low, following the release of mixed US data. Weekly jobless claim resulted better-than-expected by falling to 271K in the week ending on December 11, although the manufacturing sector is still unable to give strong signals, as the Philly FED index came out at -5.9 for December, against previous 1.9. The pair bounced some from the mentioned low, but maintains a strong bearish tone as stocks maintain a strong upward momentum, and the 1 hour chart shows that the price is currently below a strongly bearish 20 SMA, while the Momentum indicator is turning lower below its 100 level, and the RSI indicator heads lower around 36, in line with further declines. In the 4 hours chart, the bearish momentum is stronger, with another attempt at 1.0830 probably resulting in a bearish breakout.
Support levels: 1.0830 1.0790 1.0750
Resistance levels: 1.0880 1.0915 1.0950
GBP/USD Current price: 1.4925
View Live Chart for the GPB/USD
The GBP/USD trades a few pips above a daily low set at 1.4906, falling on dollar's strength, and despite up beat UK Retail sales data. Early in the European morning, November figures showed that sales grew by 1.7% in the mentioned month, well above market's expectations of 0.5%. Compared to a year before, sales increased by 5.0%. The pair initially run higher with the news, advancing briefly above the 1.5000 level before turning sharply lower The short term technical picture is bearish, and the 1 hour chart shows that the price is unable to advance above a strongly bearish 20 SMA, while the technical indicators have turned south well below their mid-lines. In the 4 hours chart, the technical indicators have partially lost their bearish strength, but remain in oversold levels, far from suggesting an up-turn in the short term, all of which supports additional declines particularly on a break below 1.4890, the immediate support.
Support levels: 1.4890 1.4850 1.4810
Resistance levels: 1.4940 1.4985 1.5050
USD/JPY Current price: 122.47
View Live Chart for the USD/JPY
123.00 now at sight. The USJ/JPY pair recovered above the 122.20 key level during the past Asian session, rallying up to 122.63 on dollar's broad strength. Despite the rally was limited, following dips down to the mentioned level attracted buying interest, and will likely help the pair in maintaining its bullish tone. Short term however, the pair shows a limited upward momentum in the 1 hour chart, as the price consolidates above flat moving averages, while the Momentum indicator turn lower around its 100 line. The RSI however, heads higher around 65, limiting chances of a steeper decline. In the 4 hours chart, the upside seems more constructive, as both the Momentum and the RSI head north near overbought levels, opening doors for a continued rally up to the 123.00 level.
Support levels: 122.20 121.70 121.30
Resistance levels: 122.60 123.00 123.40
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