EUR/USD Current Price: 1.1263
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The dollar maintained its positive tone against its European rivals during the first half of the day, resulting in the EUR/USD plummeting to a fresh 2-week low of 1.1233. The release of the EU final March CPI figures was slightly encouraging, as compared to a year before, it came in flat, against a previous 0.1% decline. Monthly basis, it rose by 1.2% as expected, whilst the core year-on-year reading came in at 1.5%. In the US, weekly unemployment claims decreased to 253K in the week ending April 8th, better-than-expected, while inflation, in March, grew less than expected, up 0.1% from the previous month. The year-on-year reading also resulted below expected, printing 0.9%, with US data once again halting dollar's rally.
The EUR/USD pair has posted quite a shallow bounce, and continues trading near its daily low, with the 1 hour chart showing that the price is incapable to advance beyond its 20 SMA, whilst the technical indicators hold directionless within negative territory. In the 4 hours chart, the technical indicators have lost their bearish strength near oversold readings, while the 20 SMA accelerated its decline above the current level, and stands now around 1.1350. At this point, only a clear recovery above 1.1330, the base of the range that contained price for almost two weeks, is the level to beat to confirm a stronger bullish potential, yet as long as the price remains below it, the risk is towards the downside.
Support levels: 1.1235 1.1200 1.1160
Resistance levels: 1.1280 1.1330 1.1380
GBP/USD Current price: 1.4149
View Live Chart for the GBP/USD
The Sterling remained muted after the BOE announced its lately economic policy decision, in line with market's expectations of an on-hold stance. All of the 9 MPC members voted to maintain rates, and the only note of color was a comment regarding the risks involving a Brexit. But the Super-Thursday ended up being a non-event, as the pair barely moved 20 pips afterwards. Trading below the 1.4200 level, the technical picture favors additional declines for today, as in the 1 hour chart, the price develops below a bearish 20 SMA, steadily attracting selling interest ever since the European session started, while the technical indicators bounced from oversold territory before losing upward strength and turned flat. In the 4 hours chart, the price is well below its moving averages, whilst the technical indicators have lost bearish momentum within negative territory, but are far from suggesting an upward corrective move.
Support levels: 1.4110 1.4050 1.4000
Resistance levels: 1..4185 1.4240 1.4285
USD/JPY Current price: 109.22
View Live Chart for the USD/JPY
Bears still lead. The USD/JPY pair is showing little signs of life this Thursday, still trading within a limited range above the 109.00 level. Poor US inflation figures, however, are pushing the pair slightly lower, but with no much conviction. Technically, the 1 hour chart shows that the price has been struggling around a bearish 200 SMA ever since the day started, unable to advance beyond it. In the same chart, the technical indicators have turned south around their mid-lines, but lack enough strength to confirm a downward continuation. In the 4 hours chart, the technical indicators have retreated from overbought levels, but remain well above their mid-lines, losing their downward strength. Overall, the pair remains bearish, and will probably extend its decline on a break below 108.90, the immediate support, but needs a good trigger to do it, and seems it won't get it today.
Support levels: 108.90 108.40 107.95
Resistance levels: 109.50 110.00 110.45
AUD/USD Current price: 0.7729
View Live Chart for the AUD/USD
The Aussie trades at fresh year highs against its American rival, boosted at the beginning of the day by pretty encouraging Australian employment data, showing that the unemployment rate fell to 5.7% in March, while the economy added 26,100 new jobs. Stocks got a boost from US tepid inflation readings, as they signal that rates will remain lower for longer, sending the AUD/USD up to 0.7736 ahead of the US opening. Technically, the 1 hour chart shows that the technical indicators maintain a strong upward momentum, despite being in overbought territory, while in the 4 hours chart, the technical picture also favors the upside, despite indicators lack upward momentum.
Support levels: 0.7720 0.7670 0.7625
Resistance levels: 0.7760 0.7800 0.7840
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