EUR/USD Current price: 1.4966
Pair is losing ground still in this week tight range; slightly bearish in the hourly chart, with indicators crossing upside down there middle line and 20 SMA above current price yet flat, pair needs to clearly move under 1.4950 to extend a downside corrective movement, while top of the range comes at 1.5020, and only an acceleration above that level, could trigger some upside momentum in the next session. Stocks are likely to continue leading the way.
Support levels: 1.4940 1.4910 1.4860
Resistance levels: 1.5005 1.5020 1.5065
GBP/USD Current price: 1.6660
Pair retreat from 3 months high at 1.6842 has extended early Europe after worst than expected Trade Balance. However, 1.6640/60 static area is acting as strong support for the pair, as 4 hours 20 SMA with a bullish slope lies around that zone. Hourly indicators had a slightly bearish perspective bias, yet pair needs to clearly break mentioned zone to extend the downside. Above 1.6700, further rises are likely for the next session.
Support levels: 1.6650 1.6600 1.6550
Resistance levels: 1.6700 1.6735 1.6780
USD/JPY Current price: 89.88
Pair remains unchanged barely under the 90.00 level, holding the bearish bias both in 1 and 4 hours charts. Japan Prime minister has just stated he never supported a strong yen, while Fitch rating agency has warned earlier today about Japan credit conditions, suggesting the downside will remain limited at current levels. Pair needs to clearly break the 89.20 zone to trigger some downside strength while only above 90.30 we could see some upside momentum in the pair.
Support levels: 89.60 89.20 88.80
Resistance levels: 90.00 90.30 90.70
USD/CHF Current price: 1.0092
Also ranging, pair has halted just under the 1.0100 level, yet keeps pushing higher supported by hourly indicators, that just gave very shy bullish signals. Pair needs to break above 1.0300 to extend the upside rally, yet 1.0200 will halt any further attempt to rise. Bigger time frames indicators show signs of exhaustion to the downside, with no signs o reversal yet.
Support levels: 1.0060 1.0030 0.9980
Resistance levels: 1.0100 1.0130 1.0165
