EUR/USD Current Price: 1.1230
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The EUR/USD fell down to 1.1187 this Tuesday, as European stocks opened sharply lower on news of terror attacks in Brussels, and despite generally positive data released in the EU. The release of the local PMIs showed that the services sector continues outperforming the manufacturing one, with the readings in the last around of below expectations. The pair however, recovered above the 1.1200 level after local share markets trimmed losses, but remains in the red on the day. Short term the 1 hour chart shows that the price develops inside a descendant channel, with the roof currently around 1.1250. In the same chart the price remains below a bearish 20 SMA, while the technical indicators have recovered within bearish territory, still unable to confirm further gains. In the 4 hours chart, the 20 SMA turned sharply lower well above the current level, while the technical indicators are now still below their mid-lines, with a limited upward potential, suggesting the pair may decline further, particularly if the price falls back below the 1.1200 figure.
Support levels: 1.1200 1.1160 1.1120
Resistance levels: 1.1245 1.1290 1.1340
GBP/USD Current price: 1.4262
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The GBP/USD pair plummeted to 1.4251 at the beginning of the day, tracking the slide in stocks, and with fears of a Brexit fueled after the latest terror attacks. The pair recovered up to the 1.4300 region after the release of local CPI and PPI data, but was unable to hold above the 1.4300 level, and now trades near the mentioned low. The UK CPI rose by 0.3% compared to a year before as expected, and by 0.2% monthly basis, missing expectations. The core reading remained steady at 1.2% yearly basis. Technically, the 1 hour chart shows that there is a strong bearish tone around the pair, given that the price is well below a bearish 20 SMA, while the technical indicators have turned back south after a limited upward correction within bearish territory. In the 4 hours chart, the price is extending its decline below its 200 EMA, which usually has strong bearish implications, while the technical indicators head sharply lower below their mid-lines, supporting a continued decline for this Tuesday.
Support levels: 1.4250 1.4200 1.4160
Resistance levels: 1.4290 1.4330 1.4380
USD/JPY Current price: 111.67
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The Japanese yen strengthened at the beginning of the European session on risk aversion, sending the USD/JPY down to 111.37. The pair traded as high as 112.20 during the Asian session, as the dollar was on demand following FED's officers comments late Monday, opening doors for a rate hike in the US as soon as next April. But the European session changed market's mood on the back of terror attacks going on in Europe, leading to safe-havens demand. The pair bounced from its low but remains within negative territory, and the 1 hour chart maintains the risk towards the downside, given that in the 1 hour chart, the price is well below its 100 and 200 SMAs, while the technical indicators have turned lower below their mid-lines. In the 4 hours chart, the risk is also towards the downside, as the indicators head south around their mid-lines, with limited momentum. A break below the 111.30 level is required to confirm additional declines, yet a break below 111.00 will confirm a sharper decline, with fresh lows below 110.66 then eyed.
Support levels: 111.30 111.00 110.50
Resistance levels: 112.10 112.45 112.90
AUD/USD Current price: 0.7597
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The AUD/USD pair has bounced quickly on a dip down to 0.7550, but is once again struggling to sustain its gains above the 0.7600 figure. The overall positive tone of the Australian currency will likely prevail in spite of risk sentiment, and retracements in the pair will likely be seen as buying opportunities. Short term, the 1 hour chart presents a neutral stance, with the pair above a horizontal 20 SMA and the technical indicators flat above their mid-lines. In the 4 hours chart, the price is being capped by a flat 20 SMA, while the technical indicators are also directionless around their mid-lines, rather supporting some consolidation than suggesting the pair may ease further.
Support levels: 0.7550 0.7510 0.7470
Resistance levels: 0.7630 0.7680 0.7720
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