EUR/USD Current price: 1.2396View Live Chart for the EUR/USD
Monday has seen some noisy trading with no certain direction, as market mostly consolidate recent dollar losses. Lack of strong news, along with Spanish and Italian yields easing, helped the EUR/USD hold around the 1.2400 level where it stands. Stocks in Europe ended up while US ones retrace most of their gains by the close bell, ending the day pretty much unchanged. Overall, the technical readings remain bullish as the hourly chart shows price holding above a flat 20 SMA and indicators stand in positive territory, while in the 4 hours chart the pair also shows some upward strength: price broke and stayed above 200 EMA, currently around key 1.2340 static support, while indicators barely corrected overbought readings and head back north. 1.2450 is next strong static resistance level, as per several daily highs and lows around it: a break above should lead to stronger gains with next target at 1.2520 price zone.
Support levels:1.2370 1.2340 1.2310
Resistance levels: 1.2410 1.2450 1.2490
GBP/USD Current price: 1.5594View Live Chart for the GBP/USD (Select the currency)
The GBP/USD traded in between 2 trend lines, a longer term descendant one coming from 1.5766 past July monthly high that for now is the one that leads the way: the pair edged lower this Monday despite market positive mood, unable to stand above the 1.5600 mark. To the downside, a shorter term ascendant trend line, coming from 1.5489 past August 2nd daily low is still preventing sellers to take control. In the hourly chart, indicators hold flat around their midlines as price struggles around a bearish 20 SMA, while in the 4 hours one price holds below 200 EMA offering dynamic resistance around 1.5610, while indicators head lower still in positive territory. The pair holds a pretty neutral stance at the time being, with a break below the 1.5540/50 area, to confirm a slide over the upcoming sessions.
Support levels: 1.5545 1.5520 1.5490
Resistance levels: 1.5610 1.5650 1.5685
USD/JPY Current price: 78.24View Live Chart for the USD/JPY (select the currency)
The USD/JPY finally retraced all past week gains, reaching again the 78.10 area over US hours. The bearish tone seen over the past few days remains in place, more ahead of upcoming BOJ meeting next August 8th, as market talks expect no action then. For the short term, the hourly chart shows price back below its 100 and 200 SMA’s, while indicators stand in negative territory, suggesting a possible retest of the 77.90 static support ahead. In the 4 hours chart price trades back below 20 SMA while indicators hold in neutral territory, showing no clear strength either side of the board.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.50 78.75 79.00
AUD/USD: Current price: 1.0563View Live Chart for the AUD/USD (select the currency)
AUD/USD reached 1.0592 daily high before retracing some of this latest gain, holding at fresh 5-month highs. Market expects RBA to remain on hold today, which overall will favors the upside in the pair, yet cautious ahead of the news, will probably see little movement over this Asian early hours. The hourly chart shows indicators still in positive territory losing some upward momentum as price hovers around 20 SMA, while in the 4 hours chart the positive tone persist: divergences seen past week with momentum had been erased with the movement towards the 1.0435 area and the indicator head backs north as price stands above its 20 SMA. A bit overextended, current bullish tone will find strong support in the 1.0470 level if RBA and governor Glenn Stevens disappoint.
Support levels: 1.0535 1.0500 1.0470
Resistance levels: 1.0595 1.0640 1.0670
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