EUR/USD Current price: 1.4720
Gold keeps leading the way in forex market, and Euro spike to 1.4730 area as gold print an historical high above $ 1035/oz; however pair reached extreme conditions in the hourly and seems ready for a downside correction before another attempt to break higher. Still with risk appetite setting a bullish bias for the pair, 4 hours charts also look a bit exhausted; downside corrections could start only under 1.4680 area, 20 SMA in the hourly.
Support levels: 1.4680 1.4650 1.4620
Resistance levels: 1.4740 1.4780 1.4810
GBP/USD Current price: 1.5889
Pair holds the bearish tone despite risk appetite spreading across the board; 1.5870 supports keeps holding the downside, yet seems we are close to a break as indicators in bigger time frames point for further downside movements ahead. Expect the pair to gain downside momentum under mentioned level, while key midterm support lies at 1.5750 tough zone. Pair needs to regain 1.5920 to limit the downside today.
Support levels: 1.5870 1.5820 1.5750
Resistance levels: 1.5920 1.5960 1.6020
USD/JPY Current price: 88.93
Pair remains strongly bearish mounted on market sentiment, likely to extend the downside to previous strong 88.20 low. Clear break under that level could confirm an extension of the rally, with next key target at the 87.10 area, yearly low. Indicators show current rally a bit over extended in 4 hours charts, so we could see a pullback to the 89.00 area, before a new down leg. Upside likely to remain limited by the 89.60 level.
Support levels: 88.80 88.50 88.20
Resistance levels: 89.00 89.30 89.60
USD/CHF Current price: 1.0264
Consolidating close to daily lows, pair seems ready for a short lived upside correction before next downside movement. Trend remains clearly bearish with 20 SMA capping the upside and a nice bearish slope in the hourly, around 1.0280. Watch for key 1.0210 support, as if this point gives up, downside movements could accelerate.
Support levels: 1.0250 1.0210 1.0170
Resistance levels: 1.0280 1.0320 1.0360
