EUR/USD Current price: 1.2301
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The EUR/USD finally surrendered this Thursday, falling as low as 1.2266 early US session. Failure to extend gains beyond 1.2400 over the past few days along with European disappointing headlines since early week, made the case for a run lower. The pair enters Asian session trading around 1.2300, holding an overall bearish stance in the hourly chart, as indicators remain mostly flat in negative territory while 20 SMA gains bearish slope above current price. In the 4 hours chart the outlook is also bearish, with price back below 200 EMA that anyway remains flat and directionless at the time being, while indicators aim slightly higher still in deep red. The main support is a bit below mentioned low, at the 1.2250 so if broken, the downside will likely be exposed for the rest of the day. Short term, bearish trend will remain intact as long price holds below 1.2330/40 price zone.
Support levels: 1.2280 1.2250 1.2220
Resistance levels: 1.2335 1.2380 1.2410
GBP/USD Current price: 1.5634
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UK deficit widened to -10.1B, according to the news released early Europe and beyond the expected -85B, sending Pound lower across the board. The GBP/USD fell towards 1.5600 area before bouncing, leaving the overall upward tone intact: in the hourly chart, a short term ascendant trend line holds in place, today around 1.5595 acting as immediate support; price is being capped by a strongly bearish 20 SMA while indicators turn flat in negative territory, suggesting no much upward potential early Asia. In the 4 hours chart, price hovers around 20 SMA while indicators lost past days’ upward momentum and hold in neutral territory. A break below the trend line, is what it takes to see some continued selling in the pair.
Support levels: 1.5595 1.5550 1.5515
Resistance levels: 1.5660 1.5685 1.5730
USD/JPY Current price: 78.59
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US yields soaring with American opening, gave a lift to the USD/JPY that stalled again right below 78.80 static resistance level. Failing again around the level, the pair pulled back to 78.50 now immediate support. Technically speaking, the hourly chart shows price finding support in its 20 SMA that stands above 100 and 200 SMA’s, while indicators turned flat right above their midlines, showing no strength either side of the board. In the 4 hours chart, indicators had lost momentum and head back south nearing their midlines, while price holds above 20 SMA that helps keep the downside limited. A limited bullish tone is building up in the pair, although only above mentioned resistance will open doors for a test of the 79.40 area.
Support levels: 78.30 78.10 77.90
Resistance levels: 78.80 79.15 79.40
AUD/USD: Current price: 1.0572
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Australian dollar will face another round of interest data with RBA monetary policy statement and Chinese Trade balance today. Past Asian session, the pair managed to extend its monthly high to 1.0611 on better than expected employment readings, yet closed the day barely changed against the greenback, lacking strength to clearly break above the 1.0600 mark. Still there are no clear signs of a bearish move ahead: the hourly chart shows indicators mostly flat in neutral territory, yet price standing above an ascendant trend line coming from past Thursday low at 1.0437. In the 4 hours chart the picture is a bit more interesting, with momentum showing bearish divergences and 20 SMA flat right below current price, both signs of exhaustion of the upward momentum. Pair however, needs not only to break and stand below the trend line currently around 1.0560, but also extend below 1.0530 to confirm a more interesting bearish movement ahead.
Support levels: 1.0560 1.0530 1.0500
Resistance levels: 1.0580 1.0610 1.0640
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