EUR/USD Current price: 1.2280
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Market sentiment continues subdue to global slowdown fears, running for safe havens dollar and yen this Friday European morning. News have been mostly discouraging since early Asian session with a worse than expected Chinese trade balance, while in Europe, fundamental data from Italy and France also failed to reach expectations. German PM words about local slowdown due to EU crisis are yet another bearish factor for the EUR/USD that stands right above the 1.2250 mark ahead of the US opening. The hourly chart shows 20 SMA capping the upside now around 1.2290, while indicators hold in negative territory; in the 4 hours chart the technical outlook is also bearish, supporting a downside continuation once mentioned support gives up.
Support levels: 1.2250 1.2220 1.2170
Resistance levels: 1.2290 1.2335 1.2380
GBP/USD Current price: 1.5591
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The GBP/USD lost the 1.5600 mark early Europe, being unable to recover ever since. PPI readings come out as expected, yet previous month suffered a strong revision to the downside still pointing for a deep recession in the kingdom. The hourly chart shows the pair broke the ascendant trend line that guide the latest upward movement, converging now with 20 SMA around 1.5620 and offering immediate resistance in the short term; indicators head south below their midlines, also pointing for more slides, while the 4 hours chart shows price below 200 EMA around 1.5610 but indicators still in neutral territory, lacking strength at the time being: price needs to accelerate below 1.5580 to gain bearish momentum and approach 1.5500/20 area later today.
Support levels: 1.5590 1.5550 1.5515
Resistance levels: 1.5620 1.5660 1.5685
USD/JPY Current price: 78.24
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The USD/JPY accelerated lower on risk sentiment approaching back to 78.10 after failure to overcome 78.80 resistance area earlier this week. The hourly chart shows a strong bearish momentum, after price broke below its moving averages, although 78.10 needs to clearly give up to see more falls. In the 4 hours chart technical readings are also strongly bearish, supporting the shorter term view.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.80 79.15 79.40
AUD/USD: Current price: 1.0520
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Australian dollar was hit not only by Chinese data yet also by RBA governor Glenn Stevens, who expressed his concerns over Aussie strength affecting the economy in his monetary policy statement. The AUD/USD fell as low as 1.0495 before bouncing back higher, still capped below the 1.0535 previous weekly low and immediate short term resistance level. The hourly chart shows price consolidating, with indicators turning flat in oversold levels and 20 SMA well above current price and strongly bearish. In the 4 hours chart price holds below 20 SMA and indicators in bearish zone, thus without strength to suggest a follow trough at the time being. Main support is the 1.0440 area once the daily low gives up.
Support levels: 1.0495 1.0440 1.0400
Resistance levels: 1.0535 1.0580 1.0610
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