EUR/USD Current price: 1.2469
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The EUR/USD rose to a fresh monthly high so far at 1.2473, as market mood stays up today, with stocks and commodities rising strongly against the greenback also. While there was no real news to trigger recent rally but some market talks on ECB action, the fact is that those rumors were enough to trigger short covering and therefore, stops in the 1.2440/50 area now immediate support. The hourly chart shows a strong upward momentum as price consolidates near the top, while in the 4 hours chart the technical outlook is also bullish: renewed buying interest above today’s high will open doors for a continuation towards the 1.2520 price zone, and even higher, as long as price holds above the 1.2400 mark.
Support levels: 1.2440 1.2400 1.2370
Resistance levels: 1.2465 1.2490 1.2520
GBP/USD Current price: 1.5771
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Pound has been again benefited by Euro advance, as early news shown again disappointing fundamental data. The pair has been as high as 1.5778 so far, and continues heading higher despite hourly indicators stand in overbought territory, aiming to break current strong midterm resistance area. Consolidating for the past few hours above the 1.5740 mark, the bias is bullish as long as above the level, with scope for a test of 1.5840 area, next strong resistance in line. The 4 hours chart also presents an increasing bullish momentum, supporting the shorter term view.
Support levels: 1.5740 1.5715 1.5685
Resistance levels: 1.5810 1.5840 1.5890
USD/JPY Current price: 79.33
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Dollar slide is supporting yen gains after recent USD/JPY consolidate stage, with the pair testing the 79.30 support level. The hourly chart shows indicators holding in neutral territory as price breaks below 20 SMA, showing no actual strength in the pair at the time being. In the 4 hours chart indicators hold in neutral territory, right above their midlines, as price also breaks below 20 SMA which supports some bearish corrections ahead towards the 78.80 static support zone.
Support levels: 79.30 79.10 78.80
Resistance levels: 79.70 80.00 80.30
AUD/USD: Current price: 1.0514
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Australian dollar has been advancing since early Asian session, following RBA Minutes and finding even more support in current risk appetite environment. The AUD/USD trades back above the 1.0500 mark, with the hourly chart showing indicators slightly exhausted to the upside and price well above its 20 SMA. In the 4 hours chart however, the pair is gaining upward momentum, with a break above 1.0535 needed to confirm an extension of current bullish tone.
Support levels: 1.0500 1.0470 1.0435
Resistance levels: 1.0535 1.0570 1.0615
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