EUR/USD Current price: 1.2198
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Again the common currency was cold-bloodedly sold against most of its rivals, reaching 1.2166 against the greenback. Late bounce propelled by US indexes erasing early losses, so far remains capped below 1.2210, and the hourly chart for the pair shows 20 SMA capping the upside at mentioned level, while indicators hold flat in negative territory. The pair is weighted by an increasing pessimism among investors over the general global slowdown; Chinese GDP figures to be release today, will play a huge role in the currency destiny, as further signs of economic deterioration will lead to more dollar and yen demand in detriment of high yielders. In the 4 hours chart indicators look exhausted near oversold readings, although no buying interest is seen around: price needs at least to regain the 1.2250 area, to be able to trigger limited upside corrections this Friday. In the meantime, a break below 1.2140 low is needed to confirm a bearish acceleration towards the 1.1870 area, next big target of current trend.
Support levels: 1.2140 1.2100 1.2060
Resistance levels: 1.2210 1.2250 1.2290
GBP/USD Current price: 1.5421
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The GBP/USD finally moved away from its consolidative range, with the GBP/USD falling as low as 1.5392 on dollar demand. The hourly chart shows price well below a bearish 20 SMA, momentum aiming higher in negative territory, and RSI pointing back south, all of which suggest the upside will remain limited. In the 4 hours chart the pair is also biased lower as long as below 1.5460/70 area, immediate resistance in case of recoveries.
Support levels: 1.5410 1.5365 1.5320
Resistance levels: 1.5465 1.5510 1.5550
USD/JPY Current price: 79.27
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BOJ movement over past Asian session has been fully erased by risk aversion, and the pair holds below 79.40/50 static resistance area, with a limited bearish tone in the hourly chart: price develops below moving averages, with technical indicators barely below their midlines. In bigger time frames the outlook is also bearish despite no clear strength comes from technical readings at the time being: price needs to ease below key 78.80 level to attempt a retest of the 78.00/40 area.
Support levels: 79.10 78.80 78.40
Resistance levels: 79.45 79.80 80.10
AUD/USD: Current price: 1.0131
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Aussie was hit by worse than expected employment data and market sentiment, reaching 1.0100 daily low. Little movement may be seen until Chinese GDP data, in the pair, with the downside favored as per hourly chart: price is being capped by a bearish 20 SMA while indicators turn flat below their midlines, ready to resume the downside. In the 4 hours chart price has found support at 200 EMA currently at mentioned 1.0100 level, while indicators hold in negative territory yet turning flat. Expect selloff to begin once below 1.0070, 38.2% retracement of this year slide, while recoveries should not extend beyond the 1.0220 key Fibo resistance level.
Support levels: 1.0100 1.0070 1.0035
Resistance levels: 1.0140 1.0170 1.0220
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