EUR/USD Current price: 1.3503
Regaining the upside after worse than expected US data, pair remains strongly bullish in the hourly chart, approaching to overbought conditions according to RSI yet still with more room to go; strong momentum also favors the upside, while bigger time frames are also clearly bullish, supporting further rises ahead of US opening. Pair needs to accelerate above static resistance area, also today’s high around 1.3520 to confirm the rally.
Support levels: 1.3485 1.3430 1.3410
Resistance levels: 1.3520 1.3560 1.3590
GBP/USD Current price: 1.5165
Breaking above 1.5160, pair keeps printing higher highs in the hourly chart, despite some bearish divergences coming from hourly indicators; 4 hours charts also show some exhaustion in indicators, suggesting some downside short lived correction before a new leg up, following market sentiment. Pair bias remains bullish as long as above 1.5120 static support zone.
Support levels: 1.5120 1.5080 1.5050
Resistance levels: 1.5200 1.5240 1.5285
USD/JPY Current price: 93.04
Pair retreated from daily highs to test 93.00 support area, that at the moment is capping the downside; however hourly indicators lost momentum and turn bearish, supporting a deeper movement ahead probably to the 92.70 area where 4 hours 20 SMA should halt the rally as dynamic support. Pair holds a slightly bullish tone as long as above mentioned support level.
Support levels: 92.70 92.50 92.20
Resistance levels: 93.30 93.50 93.75
USD/CHF Current price: 1.0568
Pair downside rally extended to key 1.0550 area, where multiple weekly highs and low gathered. An acceleration under that area, should trigger further selling in the pair thus hourly indicators show we are approaching to oversold conditions and an upside corrective movement could be seen. Anyway, upside remains limited by strong bearish momentum both un 1 and 4 hours charts.
Support levels: 1.0550 1.0520 1.0480
Resistance levels: 1.0610 1.0640 1.0680
