Currency Majors Technical Perspective

EUR/USD Current price: 1.2993

A better than expected report in the US, showing home prices rose above expectations, may the cross retreat from its fresh monthly high set at 1.3045, now back under 1.3000. Still hourly indicators remain flat around their midlines, giving no clear cues from that perspective, while prices fights around 1.3000 Fibonacci level, and 20 SMA with a bullish slope, that should offer some support around this area; only a clear confirmation under 1.2970 could trigger further loses today, while if price manages to regain 1.3020, chances will be again to the upside.

Support levels: 1.2970 1.2930 1.2900

Resistance levels: 1.3020 1.3060 1.3100

GBP/USD Current price: 1.5553

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Having set an intraday high around 1.5577, pair holds a slightly bullish tone according to hourly indicators, thus stronger coming from 4 hours ones, as momentum in aiming for more gains; still mentioned level is a strong resistance area formed by intraday highs and lows, so it won’t be easy to break higher. Watch for a short lived retracement towards 1.5510. Pound is trading in mirror with loonie that tested a daily ascendant trend line coming from 0.9930 lows, around 1.0260: if Canadian dollar managed to extend its gains, Pound will be favored by the movement.

Support levels: 1.5510 1.5490 1.5460

Resistance levels: 1.5570 1.5610 1.5650

USD/JPY Current price: 87.66

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Testing yesterday’s high around 87.70, pair has managed to post a strong comeback following raises in stocks markets around the world. Still bullish according to hourly indicators, and with 4 hours chart showing also a good upside momentum pair needs to accelerate trough 87.80 to extend current rally towards 88.20 zone. Immediate support comes at 87.30 area, that should keep the downside limited to favor a bullish continuation in the pair.

Support levels: 87.30 87.05 86.70

Resistance levels: 87.80 88.20 88.55

USD/CHF Current price: 1.0595

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USD/CHF rose above 1.0550 area, breaking the range of the past 2 weeks and still heading higher according to both 1 and 4 hours charts, thus a bit overextended in the first one, suggesting a corrective movement that should hold above that 1.0550, to keep the bullish perspective alive. Daily close around current levels, should suggest an interim bottom in the daily chart, aiming for a stronger recovery, still not confirmed: pair will need to regain at least 1.0610 area first.

Support levels: 1.0550 1.0520 1.0470

Resistance levels: 1.0610 1.0640 1.0680

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