EUR/USD Current price: 1.2987
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Day went away and Euro did not noticed: trapped in a small range, technically the consolidative range extended this Wednesday, with the pair trapped in between 1.3045 past Asian session high, and 1.2960 as base; a daily ascendant trend line coming from early July low around 1.2540, now lies around 1.2900, so that’s probably the risk level to the downside of the pair, will mentioned 1.3045 highs, where pair seem to have draw a double roof, is the risk break bullish level.
Indicators remain flat both in 1 and 4 hours charts, giving no clear bias, and despite some risk aversion floats above markets, pair seems also insensitive to that. Expect range to extend during current Asian session, while if a break should take place will be nearby European opening.
Support levels: 1.2960 1.2935 1.2910
Resistance levels: 1.3015 1.3050 1.3100
GBP/USD Current price: 1.5593
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Starting the session at the exact some level as yesterday, Pound was barely moved today, holding around 1.5600 level since early Europe; however bullish tone persist as the pair managed to print a fresh monthly high around 1.5637, while at this point, hourly indicators are gaining a slightly bullish tone, still lacking strength. Bigger time frames show a strongly bullish 20 SMA while indicators are flat above their mid lines.
Support levels: 1.5560 1.5520 1.5480
Resistance levels: 1.5610 1.5640 1.5685
USD/JPY Current price: 87.41
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Yen lost ground on worse than expected US Durable Goods Orders: as usual, risk events in America favor the Japanese currency as per it’s safe haven condition. The cross tested 88.10 resistance area early Wednesday, only to fall strongly from that level, back to 87.20/30 support zone. Technically, hourly indicators seem to have found a temporal bottom, with the pair aiming higher right now, yet only above 87.70 we could see some strength in the cross; under 87.20, rally could then extend towards 86.70 next support.
Support levels: 87.20 87.00 86.70
Resistance levels: 87.70 88.18923
AUD/USD Current price 0.8925
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The overall loser this Wednesday, Aud slump on worse than expected inflation readings that dilute chances of a rate hike next week. Holding above 0.8900, hourly indicators had turned slightly bearish while price develops under the 20 SMA, while 4 hours indicators have also a bearish tone, that suggest the upside will remain limited today. To the downside however, only a clear break of tough 0.8860/80 area should signal stronger falls in the cross.
Support levels: 0.8900 0.8870 0.8830
Resistance levels: 0.8945 0.8980 0.9010
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