EUR/USD Current price: 1.1222
View Live Chart for the EUR/USD
The dollar trades slightly lower across the forex board this Tuesday, although little action is seen among major pairs. The EUR/USD pair traded as low as 1.1172 during the past Asian session, and up to 1.1230 in the European morning, holding nearby ahead of the US opening. Earlier today, Germany released its Factory Orders figures, showing a sharp decline in August of 1.8% compared to a month before, weighing on the local share market.
Technically, there's little to make out of the pair, as its trading mid-way between the limits of a daily triangle, with the base today at 1.1160 and the roof near 1.1290. The 1 hour chart shows that the price is above its moving averages, whilst the technical indicators have lost their upward strength and turned lower above their mid-lines. In the 4 hours chart, however, the price is above a mild bullish 20 SMA, whilst the technical indicators head higher above their mid-lines, limiting the risk of a stronger decline.
Support levels: 1.1200 1.1160 1.1120
Resistance levels: 1.1245 1.1290 1.1335
GBP/USD Current price: 1.5172
View Live Chart for the GPB/USD
The British Pound trades slightly higher against the greenback, near its daily high of 1.5179, but with the overall dominant bearish trend firm in place, given that the pair is far below the 23.6% retracement of its latest bearish run a 1.5245. Short term, the technical picture supports some intraday gains, as the 1 hour chart shows that the price is above its 20 SMA, while the technical indicators head higher above their mid-lines. Selling interest however, waits around the 1.5200 figure. In the 4 hours chart, the price is moving back and forth around a horizontal 20 SMA whilst the technical indicators also lack directional strength around their mid-lines.
Support levels: 1.5130 1.5100 1.5060
Resistance levels: 1.5210 1.5245 1.5270
USD/JPY Current price: 120.33
View Live Chart for the USD/JPY
Waiting for the BOJ. The USD/JPY pair trades in a 50 pips range ever since the day started, hovering around the 120.35 level, the 50% retracement of its latest weekly decline. For over a month already the USD/JPY has been trading in quite a limited range within Fibonacci levels, which basically means that, when it is finally broken, the movement has high chances of being explosive. There are little chances of seeing the pair moving far away during the upcoming hours, but during the upcoming Asian session, the BOJ will have its monthly economic meeting. There is a good chance that the Central Bank will extend its stimulus plans, which may result in a strong upward rally in the pair. In the meantime, the 1 hour chart shows that the 100 and 200 SMAs stand flat around 120.00, while the technical indicators are stuck in neutral territory. In the 4 hours chart, the technical indicators turned lower around their mid-lines, showing no actual momentum, whilst the price holds above its moving averages that anyway present bearish slopes, limiting chances of a stronger advance as long as the 120.70 static resistance holds.
Support levels: 120.00 119.60 119.35
Resistance levels: 120.70 121.00 121.35
AUD/USD Current price: 0.7110
View Live Chart for the AUD/USD
The AUD/USD pair advanced up to 0.7133 this Tuesday, surging after the latest RBA monetary policy decision, where the Central Bank decided to leave its cash rate unchanged at 2.0%. The following statement from Governor Stevens showed that policy makers are not yet concerned about the economic slowdown in the region, which helped the antipodean currency advancing up to the mentioned high. The 1 hour chart shows that the price has held above a bullish 20 SMA, with intraday buying interest surging around 0.7100, while the technical indicators hold well above their mid-lines, with the Momentum indicator aiming higher. In the 4 hours chart, the price is stuck around its 200 EMA, but well above a bullish 20 SMA and with the technical indicators heading higher above their mid-lines, supporting further advances, particularly on a break above 0.7140.
Support levels: 0.7090 0.7050 0.7020
Resistance levels: 0.7140 0.7190 07230
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