Currency Majors Technical Perspective

EUR/USD Current price: 1.2882

Consolidating past Friday’s gains in between 1.2860 and 1.2920, pair has lost the overbought state in the hourly chart, with indicators bouncing back up from their midlines, keeping the downside limited by mentioned static support zone. Under a flat 20 SMA, pair needs at least to accelerate above 1.2922, 4-week high, to confirm further gains, while downside corrective rallies could extend towards 1.2810 without harming the bullish midterm tone.

Support levels: 1.2860 1.2835 1.2810

Resistance levels: 1.2880 1.2900 1.2925

GBP/USD Current price: 1.5373

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Another failure attempt to consolidate above 1.5470 static resistance area, pushed Pound back close to past week low around 1.5320. Hourly momentum remains heading south under its midline, while 20 SMA above current price is gaining bearish slope, supporting the downside in the pair. Break of mentioned weekly low, could send pair towards next support, around 1.5260, leaving it vulnerable ahead of volume increase later in Asia.

Support levels: 1.5320 1.5260 1.5220

Resistance levels: 1.5385 1.5420 1.5470

USD/JPY Current price: 84.25

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Consolidating in a tight range in between 84.00 and 84.40 area, pair holds its predominant bearish tone, with investors waiting for the outcome of the two day’s meeting of BOJ. Little of nothing the central bank claimed to can do alone to fight deflation, and with Europe and the US, not showing aims of helping, pair seems meant to extend the downside towards fresh 15-year lows this week. Hourly chart show price under MA’s, while momentum is flat under its 100 level, keeping the upside limited. 84.00 is immediate support as technical confirmation under the level, should support another selling round in the cross.

Support levels: 84.00 83.60 83.35

Resistance levels: 84.45 84.80 85.10

USD/CHF Current price: 1.0150

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Orders flows are slow today due to US holiday, thus failure to regain the 1.0220 area past Friday, suggest the pair has not found an interim bottom yet. Consolidating around 1.150, hourly chart shows indicators under their mid lines, while price action is capped by 20 SMA, keeping the upside limited in the cross; lose of 1.0135 intraday low, should support further sell in the cross.

Support levels: 1.0135 1.0100 1.0065

Resistance levels: 1.0170 1.0220 1.0250