EUR/USD Current price: 1.2516
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Uneventful Monday so far, with the UK closed on holidays, has kept majors in range with the dollar still pressured as investors hopes center in Jackson Hole and Bernanke’s tips on QE later this week. The EUR/USD fell as low as 1.2490, from where it has been recovering since early European session, trading near daily highs ahead of US opening. The hourly chart shows price in a quiet range above a flat 20 SMA, while indicators hold flat around their midlines, lacking clear direction at the time being, although holding a general bullish tone, as price seems unable to break clearly below the 1.2500 mark. In the 4 hours chart, technical readings are also upward supportive, as despite lacking momentum, 20 SMA heads north around current levels.
Support levels: 1.2500 1.2485 1.2440
Resistance levels: 1.2550 1.2590 1.2630
GBP/USD Current price: 1.5806
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The GBP/USD consolidates right above the 1.5800 level, heavy after testing 1.5911, 3-month high past Thursday. The hourly chart shows price struggling around a flat 20 SMA while indicators stand in negative territory, suggesting more downside pressure ahead. In the 4 hours chart the bearish tone is stronger with price below a bearish 20 SMA and momentum accelerating south below 100. Stops should gather below the 1.5790 mark and once triggered, 1.5740 a daily ascendant trend line, is next support.
Support levels: 1.5770 1.5740 1.5700
Resistance levels: 1.5830 1.5860 1.5895
USD/JPY Current price: 78.67
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Japanese yen eased early Asia, reaching against the dollar the 78.80 area where sellers capped the upside. Trading in a tight 20 pips range, the pair lacks direction according to the hourly chart, with indicators flat in neutral territory, although favored to the downside as per price holding below moving averages. In the 4 hours chart the technical picture is also unclear with moving averages converging around current price and indicators flat in neutral territory.
Support levels: 78.60 78.30 78.10
Resistance levels: 78.80 79.05 79.30
AUD/USD: Current price: 1.0381
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Australian dollar remains bearish, trading below the 1.0400 against the dollar, and nearing the 1.0370 immediate support. The hourly chart shows technical readings support the dominant trend, with price capped below 20 SMA and indicators heading lower in negative territory. In bigger time frames 4 hours chart 200 EMA offers strong resistance around 1.0410, while technical readings also point for a downside continuation in the pair.
Support levels: 1.0370 1.0330 1.0300
Resistance levels: 1.0410 1.0440 1.0470
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