EUR/USD Current Price: 1.1161

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The American dollar stands as the weekly winner across the board, having recovered a good part of its post-FOMC losses amid the hawkish rhetoric of several FED officers, who in different times and events, pledged to remain in tightening path, and even jawboned on a possible April rate hike. The American currency's rally stalled on Thursday, mostly on profit taking ahead of the long weekend. 

This Friday, most major markets are closed, and despite not being a federal holiday in the US, Wall Street will remain closed. The country is going to release its latest revision of the Q4 2015 GDP figure, and unless it has a strong deviation from the previous 1.0%, the market will remain mute. A strong divergence may see a limited market reaction due to the lack of volume, but will probably trigger some gaps in the upcoming week opening next Sunday.

As for the technical picture of the EUR/USD pair the price is stuck around the 61.8% retracement of the rally achieved post FED, presenting a neutral stance in the short term, given the lack of liquidity of these last days, but the technical bias still favors the downside, given that in the 4 hours chart, the price remains below a bearish 20 SMA, currently around 1.1180, while the technical indicators have lost their upward strength after correcting oversold readings, and hold now well below their mid-lines.  

Support levels: 1.1120 1.1085 1.1040

Resistance levels: 1.1200 1.1245 1.1290


GBP/USD Current price: 1.4120

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The GBP/USD pair retreated from yesterday's high set at 1.4182, and so far holds above the 1.4100 level, confined to a tight range amid inexistent liquidity. Brexit fears are still the main driver for Pound, and until the referendum, by the ends of June, a strong recovery seems unlikely. Short term, the 4 hours chart shows that the price has broken below its 200 EMA, now around 1.4260, while the 20 SMA heads sharply lower above the current price, offering an immediate resistance around 1.4180. In the same chart, the technical indicators have corrected oversold readings, but lost steam within bearish territory. Should the price accelerate below 1.4100, the pair will likely close the week near the 1.4050 region poised then to break back below the 1.4000 psychological level next week. 

Support levels: 1.4100 1.4050 1.4010

Resistance levels: 1.4200 1.4235 1.4260


USD/JPY Current price: 113.06

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The USD/JPY pair surged to a fresh weekly high of 113.32 during Asian hours, with the greenback getting a boost from Japan latest inflation figures, flat in February. The headline National CPI up 0.3% compared to a year before, and in line with expectations. Excluding volatile food and energy prices, the CPI rose by 0.8% year-on-year. The readings have fueled expectations of more easing coming from the BOJ, as the 2.0% inflation target is still too far away. The pair later retraced partially, but remains above the 113.00 figure, and the 4 hours chart shows that the price is above its 100 and 200 SMAs, while the technical indicators hold within positive territory. The pair is usually quite sensitive to US GDP releases, but expectations for today are low, as traders have emptied desks already. The daily high is now the immediate resistance, with some additional gains beyond it supporting further gains ahead of the close. 

Support levels: 112.90 112.40 112.00

Resistance levels: 113.30 113.75 114.00


AUD/USD Current price: 0.7528

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The Aussie trades flat against the greenback daily basis, down on the week after rallying up to 0.7679, its highest in 8 months, last week. The long term picture suggests that this latest decline is just corrective, and the fact that the pair holds above the 0.7500 figure supports that case. However, the pair can decline further, and draw a steeper downward correction during the upcoming days, particularly if the greenback remains strong. Technically, the 4 hours chart shows that the price remains below a bearish 20 SMA, while the technical indicators have bounced partially from oversold readings, limiting chances of a stronger decline. Nevertheless, the pair needs to rally beyond the 0.7600 figure to regain its bullish strength, and be able to extend its gains to new monthly highs. 

Support levels: 0.7500 0.7470 0.7440 

Resistance levels: 0.7560 0.7605 0.7640 

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