EUR/USD Current price: 1.2598
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The EUR/USD has been struggling to hold to recent gains this Monday, easing towards key 1.2570 level which represents the 23.6% retracement of this year fall, amid weaker unemployment EU data: the rate reached a record high of 11.1% for May. While local share markets are clearly up, US indexes aim for a shy positive opening at the time being. When it comes to technical studies, the hourly chart shows price well below its 20 SMA holding around 1.2600 while indicators head south in negative territory. In the 4 hours chart current candle opened below 200 EMA now at 1.2635 offering dynamic resistance, while indicators head south still above their midlines, correcting extreme overbought readings reached past Friday. Bearish momentum will likely accelerate only below 1.2570 mark, while back above 1.2630, chances are short term bullish for the pair.
Support levels: 1.2570 1.2520 1.2490
Resistance levels: 1.2635 1.2680 1.2710
GBP/USD Current price: 1.5709
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Pound soared above 1.5700 against the greenback ahead of the US opening bell, with no much of a fundamental reason. The pair trades right below past Friday high at 1.5714 an immediate resistance, with the hourly chart showing an increasing bullish tone, as price regained its 20 SMA and indicators head north above their midlines. In the 4 hours chart, price has been finding support in its 200 EMA while indicators also head slightly higher in positive territory. With market players pricing in a probable BOE extension of the assets purchase program, the upside will likely remain limited by 1.5770 area, past month high.
Support levels: 1.5690 1.5660 1.5620
Resistance levels: 1.5715 1.5735 1.5770
USD/JPY Current price: 79.72
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The USD/JPY trades today between 79.40 and 80.00, with its usual lack of definition and ignoring most of market woes. The hourly chart shows a slightly bearish tone as price stands below a bearish 20 SMA while indicators head lower around their midlines; in the 4 hours chart however indicators head higher while price stands above moving averages, limiting slides to the 79.45 price zone. Price needs to clearly overcome 80.10, to be able to extend gains in the near future.
Support levels: 79.45 79.20 78.80
Resistance levels: 80.10 80.30 80.60
AUD/USD: Current price: 1.0259
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The AUD extended its gains to 1.0277 against the dollar, holding above key 1.0220 area 50% retracement of this year fall. While hourly indicators lost earlier bullish momentum, price consolidates near the highs, suggesting the selling interest is not strong enough at the time being, and further gains may be seen. In the 4 hours chart the pair is still biased higher, with indicators in positive territory and 20 SMA showing a strong bullish slope well below current price. The RBA is expected to remain on its rate decision over next Asian session, favoring the upside is risk appetite prevails in the US session.
Support levels: 1.0220 1.0180 1.0130
Resistance levels: 1.0270 1.0300 1.0360
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