EUR/USD Current price: 1.2275
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Today was the turn of French Hollande to boost the euro, stating that everything will be done to protect and defend the EUR. Following positive US numbers that reached expectations, the EUR/USD jumped to a daily high of 1.2318 struggling to hold above 1.2300 ahead of the US opening. The hourly chart shows price back above 20 SMA, right below current price, as indicators gain some ground and head north above their midlines, suggesting some gains ahead while in the 4 hours chart price stands above a flat 20 SMA while indicators hold in neutral territory: the pair will face a strong challenge again in the 1.2330/40 static resistance level if positive mood extends, with chances of a break higher pushing price towards the 1.2390 high posted past Friday, while once below 1.2250, sellers will regain control.
Support levels: 1.2250 1.2210 1.2170
Resistance levels: 1.2300 1.2335 1.2390
GBP/USD Current price: 1.5662
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Pound is under pressure this Tuesday, following Moody’s announcement that changed the outlook to negative for the UK. Recent news that a German bank group rejects the idea of a banking license for ESM is putting risk aversion back on the table, sending GBP/USD to fresh daily lows below the 1.5660 mark. The hourly chart gains bearish momentum as indicators head south below their midlines, while 20 SMA caps the upside around 1.5700. In the 4 hours chart indicators are flat around their midlines as price broke below 20 SMA still bullish above current price. If price stands below 1.5660, the pair has scope to extend its slide towards 1.5550 price zone over the upcoming hours.
Support levels: 1.5620 1.5590 1.5550
Resistance levels: 1.5660 1.5700 1.5730
USD/JPY Current price: 78.20
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Unchanged since last updates, the pair manages to hold above 78.10 support, maintaining the bearish tone seen on previous updates. The hourly chart shows price struggling around 20 SMA, while below 100 and 200 ones, as indicators hold around their midlines. In the 4 hours chart price is capped below 20 SMA and indicators heading slightly lower below their midlines, with no strength at the time being. Extremes to break remain 77.90 to the downside and 78.80 to the upside.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.30 78.70 79.00
AUD/USD: Current price: 1.0501
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Aussie holds to its recent strength, reaching another high for the month at 1.0536. the rally begins to look exhausted at the time being, with the hourly chart showing price back below 20 SMA and indicators approaching their midlines. While China announced today that will diversify also in Australian denominated assets, keeping the longer view still bullish, some downside corrections may begin if the pair losses 1.0480 immediate support. Technical divergences in the 4 hours chart support the downside as long as the high remains intact.
Support levels: 1.0480 1.0440 1.0400
Resistance levels: 1.0510 1.0550 1.0600
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