EUR/USD Current price: 1.4401
Despite dollar declined after FED signaled it’s not in a rush to raise interest rates, and even has doubts about removing stimulus too soon, pair remain trading inside past two weeks range, still in consolidation mode; dollar could extend its weakness during current Asian session thus technically the pair show a bearish tone coming from 1 and 4 hours indicators. Only hourly 20 SMA under current price support the bullish bias, so we need a clear confirmation an acceleration above the 1.4440 area to see the pair extending the rally, to support current dollar bearish sentiment. Under 1.4365, chances of further rises dilute and pair could come back under pressure.
Support levels: 1.4365 1.4320 1.4280
Resistance levels: 1.4440 1.4485 1.4520
GBP/USD Current price: 1.6012
Stacked at the 1.6000 area, Pound remains under pressure ahead of BOE’s decision early Thursday. With no clear definitions coming from hourly indicators as the pair remains ranging, market players likely to remain on hold until monetary policy is released. Under 1.5960 area, pair could regain some downside momentum, as well as the upside if confirm above 1.6060, yet seems that’s the trading range for current session, as breaks are not seen for next hours.
Support levels: 1.6000 1.5960 1.5935
Resistance levels: 1.6030 1.6060 1.6100
USD/JPY Current price: 92.33
Still holding above 92.20 yet slightly bearish in the hourly chart, pair remains generally bullish after Fujii resignation and the fact that new named Finance Minister is Naoto Ka, known as pro yen weakness, meaning not supportive of a strong currency. Technically, current downside movement could extend to the 91.80 area and close to 91.50 without harming bullish tone that only will tumble if pair lost this last. To the upside 92.70 area is key resistance level to watch.
Support levels: 92.20 91.80 91.50
Resistance levels: 92.70 93.15 93.40
USD/CHF Current price: 1.0280
Swiss Franc remains strong across the board favored also by rising gold prices; pair continues printing lower lows at the daily chart, suggesting bearish potential is far from over. However hourly charts show indicators exhausted, suggesting some upside corrective movement ahead, thus break above 1.0365 is not seen for current session.
Support levels: 1.0240 1.0210 1.0180
Resistance levels: 1.0320 1.0365 1.0400
