EUR/USD Current price: 1.2368

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The massive support of EU authorities to Draghi’s words, coming from Merkel, Hollande, and Schaeuble has pushed EUR/USD above key 1.2330/40 area, with the pair so far holding above 1.2360 and heading north according to the hourly chart: indicators head higher above their midlines, as 20 SMA offers dynamic support at around 1.2280. In the 4 ours chart pair is finding resistance at 200 EMA around 1.2370, while the overall bias remains bullish, with scope now for a test of the 1.2410 price zone.

Support levels: 1.2335 1.2300 1.2280

Resistance levels: 1.2370 1.2410 1.2440

GBP/USD Current price: 1.5746


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The GBP/USD advance reached 1.5770 static resistance level, pulling back slightly lower at the time being, yet holding a bullish stance as per technical readings and market sentiment. The hourly chart shows indicators heading higher as price stands above 20 SMA, while bigger time frames also support the upside, as higher highs are reached. The 1.5770 area is a strong midterm resistance level, and won’t be easy to break; however if price manages to hold above 1.5720/30 area, chances of an upward advance increase with 1.5810 then as possible top for today.

Support levels: 1.5730 1.5690 1.5660

Resistance levels: 1.5770 1.5810 1.5835

USD/JPY Current price: 78.42

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Dollar advances against the yen, as US GDP readings come as expected at 1.5%. The pair struggles with the 78.40/50 static resistance area, while indicators lose upward potential holding still in positive territory. In the 4 hours chart the pair turned slightly bullish as indicators head north above their midlines, while price moves away from 20 SMA. Short term support comes at 78.30, where the pair halted to the upside several times over the last few days; as long as above this last, current rally could extend near 78.80 before the day is over.

Support levels: 78.30 78.10 77.90

Resistance levels: 78.80 79.00 79.25

AUD/USD: Current price: 1.0446

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The AUD/USD trades right above past week high, having reached so far 1.0454 and looking strongly bullish in the hourly chart, as per technical readings. 20 SMA offers strong dynamic support, currently around 1.0415, while the pair seems ready to test the 1.0470 mark, past April monthly high. In the 4 hours chart indicators look slightly exhausted in overbought levels, yet with no signs of correcting lower at the time being.  Midterm bias is also bullish as the pair moves away from key 1.0360, now strong support an probable buying level in case of retracements.

Support levels: 1.0385 1.0360 1.0330

Resistance levels: 1.0420 1.0440 1.0470


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