EUR/USD Current price: 1.2082
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If not enough that Catalonia is now the following region to ask for bailout in Spain, Italian jitters are also hitting the wires, with market talks of Italian cities in the verge of default. Over the weekend, Greece and Spain gained the headlines, as while the first is again feared to leave the area, in the second more regions ask for bailout, far beyond the 100B approved by the EU last week. The EUR/USD trades near daily low set so far at 1.2066 with the hourly chart showing an increasing bearish momentum, as price failed to overcome 20 SMA while indicators head south below their midlines. In the 4 hours chart indicators are also biased lower despite in oversold territory, while 1.2130 is now key resistance: the level is the 50% retracement of the lifetime EUR/USD range of 0.8225/1.6038. Sellers will remain in charge as long as below this last
Support levels: 1.2065 1.2040 1.2010
Resistance levels: 1.2100 1.2130 1.2165
GBP/USD Current price: 1.5496
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The GBP/USD trades right below 1.5500, as the lack of fundamental news leaves major crosses in the hands of risk sentiment. The hourly chart for the pair shows indicators heading south in extreme oversold levels, with no aims of correcting higher, while in the 4 hours chart, price continues moving away from its 200EMA, currently around 1.5610, as indicators head lower reaching oversold levels. Despite the technical readings, if US stocks continue falling with New York opening bell, the pair will likely extend towards key support around 1.5440 before stalling.
Support levels: 1.5490 1.5440 1.5400
Resistance levels: 1.5520 1.5550 1.5585
USD/JPY Current price: 78.22
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The USD/JPY fell as low as 77.93 early Europe, holding an overall bearish tone according to the hourly chart as recoveries so far had been capped by a strongly bearish 20 SMA, while indicators turn back south below their midlines. In bigger time frames, indicators look exhausted in oversold extremes, although corrective movements will likely remain limited. Break below mentioned daily low should signal a retest of June low at 77.65 later today.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.40 78.80 79.00
AUD/USD: Current price: 1.0255
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Australian dollar nose dive against most rivals, with the AUD/USD strongly bearish according to the hourly chart, as indicators barely correct extreme oversold readings and head back north, while 20 SMA gains bearish slope above current price. In the 4 hours chart the pair is also biased lower, with 1.0220 Fibonacci support as key level to watch as a daily close below it should put further pressure in the Australian dollar.
Support levels: 1.0250 1.0220 1.0170
Resistance levels: 1.0280 1.0310 1.0340
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