EUR/USD Current Price: 1.1120
View Live Chart for the EUR/USD
The EUR/USD pair trades in the lower half of its latest tight range, down to 1.1118, holding nearby ahead of US data release. Generally speaking, markets are quite active, with Asian stocks down, but European ones higher, and oil recovering ground after yesterday's slump. The common currency however, seems unable to attract investors, and this latest intraday bounce is more related with dollar's weakness than self EUR strength. US data came out mixed, with Housing Starts down in January to 1.1M, although Building Permits surged slightly above the 1.2M expected while Producer Price Index figures surprised to the upside, up by 0.4% monthly basis, and 0.6% compared to a year before, beating market's expectations.
The pair fell back towards its low with the news, and is poised to extend its decline, as in the 1 hour chart, the 20 SMA capped advances whilst the technical indicators turned south around their mid-lines, and are currently accelerating their declines within negative territory. In the 4 hours chart, the technical bias is also towards the downside, with the 20 SMA heading sharply lower in the 1.1160 region, and the technical indicators resuming their declines within negative territory.
Support levels: 1.1080 1.1045 1.1000
Resistance levels: 1.1160 1.1210 1.1250
GBP/USD Current price: 1.4286
View Live Chart for the GBP/USD
The British Pound saw some relief after the release of January UK employment data, showing an improvement in wages and jobs' creation, although the unemployment rate remained at 5.1%, missing expectations of 5.0%. The GBP/USD extended its decline down to 1.4243 during Asian trading hours, but the good news helped it bounce back above the 1.4300 figure. The shallow advance was quickly reverted after the release of good US inflation figures, and the pair is trading back below a daily ascendant trend line, whilst the 1 hour chart shows that the price is aiming to extend below a flat 20 SMA, and that the technical indicators are turning lower around their mid-lines. In the 4 hours chart, the technical indicators have turned back lower after a brief correction from oversold readings, now while the price remains far below a bearish 20 SMA, all of which supports some further declines.
Support levels: 1.4250 1.4210 1.4170
Resistance levels: 1.4325 1.4370 1.4410
USD/JPY Current price: 114.30
View Live Chart for the USD/JPY
Limited gains on mixed mood. The USD/JPY pair advances above the 114.00 level ahead of the US opening, helped by rising European equities and better-than-expected US data, showing that inflation at factory levels rose in January, leaving negative territory. Housing data showed a slight decline in Housing Starts, but also an improvement in Building Permits during the same month. The USD/JPY pair however, remains within its latest range, with the modest advance still unable to extend beyond the 200 SMA in the 1 hour chart. In the same graphic, the 100 SMA offers a short term support around 113.35, while the technical indicators head slightly higher above their mid-lines, in line with further advances. In the 4 hours chart, the technical indicators are posting nice bounces from their mid-lines after correcting overbought conditions, supporting some further advances towards the 114.85 region, this week high.
Support levels: 114.10 113.70 113.35
Resistance levels: 114.85 115.20 115.50
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