EUR/USD Current Price: 1.1385
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The EUR/USD pair trades uneventfully around 1.1370/80, having seen little activity so far this Monday. So far, data coming from the EU has been pretty discouraging, given that the Sentix Investor confidence index for April, showed a tepid growth, up to 5.7 from previous 5.5, below market's expectations of 6.4. The Producer Price index for the region plummeted further into the red on February, down by 0.7% monthly basis, and leaving the annual reading at -4.2%. Nevertheless, the dollar remains under pressure across the board, as local share markets recovered some of the ground lost last Friday. Technically, the 1 hour chart shows that the price is advancing towards its 20 SMA, while the technical indicators head higher towards their mid-lines, still unable to confirm an upward continuation. In the 4 hours chart, the price is holding above its 20 SMA, whilst the technical indicators lack directional strength within bullish territory, suggesting some additional gains beyond 1.1410 are required before confirming an upward continuation.
Support levels: 1.1360 1.1320 1.1280
Resistance levels: 1.1410 1.1460 1.1500
GBP/USD Current price: 1.4273
View Live Chart for the GBP/USD
The GBP/USD pair accelerates north ahead of the US opening, approaching the 1.4300 level, and shrugging off recent weakness, in spite of a weaker-than-expected Construction PMI figure for March, which printed 54.2, below the 54.3 expected. The 1 hour chart, shows that the price has accelerated after breaking above a bullish 20 SMA, whilst the technical indicators have accelerated their advances, and approach overbought territory. In the 4 hours chart, however, the price is below a bearish 20 SMA, currently around 1.4310, whilst the technical indicators have recovered within bearish territory, but lack enough momentum to confirm additional gains.
Support levels: 1.4260 1.4210 1.4170
Resistance levels: 1.4330 1.4370 1.4410
USD/JPY Current price: 111.53
View Live Chart for the USD/JPY
Bearish pressure prevails. The USD/JPY pair remains subdued, having advanced up to 111.73 before turning back south, overall maintaining the negative tone that led the pair for all of this past March. The Nikkei 225 edged slightly lower, having no effects over the pair, whilst the neutral tone in US futures is keeping the pair confined to a limited range. The technical short term picture favors the downside, as in the 1 hour chart, the price is below a bearish 100 SMA that accelerated its decline after breaking below the 200 SMA. In the same chart, the technical indicators are retreating from their mid-lines, suggesting the decline may extend further. In the 4 hours chart, the price is also developing below its 100 and 200 SMA, whilst the technical indicators have turned lower after a limited upward corrective movement from oversold levels, all of which supports the shorter term perspective, particularly on a break below the daily low of 111.31.
Support levels: 111.30 111.00 110.65
Resistance levels: 112.00 112.60 113.10
AUD/USD Current price: 0.7626
View Live Chart for the AUD/USD
The AUD/USD pair fell down to 0.7603 this Monday, maintaining a short term negative tone ahead of the US opening, as following bounces have been contained by selling interest around 0.7740. The Aussie downward tone is being blame on commodities' weakness, as both, gold and oil remain trading at Friday's lows. Technically, the 1 hour chart shows that the risk has turned towards the downside with the price developing below a bearish 20 SMA, whilst the technical indicators head lower below their mid-lines. The 4 hours chart also presents a bearish tone, given that the price is below a bearish 20 SMA, whilst the Momentum indicator heads lower below the 100 level, and the RSI indicator hovers around 47.
Support levels: 0.7600 0.7570 0.7540
Resistance levels: 0.7740 0.7775 0.7800
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