EUR/USD Current price: 1.2505
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The EUR/USD fell today, reaching 1.2485, past week high and a short term ascendant trend line, where it found temporal support, bouncing to current level where it consolidates. Hopes Bernanke will announce QE3 tomorrow, diminished furthermore, the ECB may skip to take a decision next week, waiting German constitutional court to rule on ESM before the announcement, delaying any action to October: risk aversion took the lead, sending dollar up across the board during the US session, with stocks and commodities ending the day in deep red. The EUR/USD hourly chart shows price standing right above mentioned trend line, while indicators head south below their midlines and 20 SMA gains bearish slope above current price, all of which favors further falls. In the 4 hours chart the neutral stance seen lately remains in place, with a break below 1.2440 needed to confirm a negative bias in the pair.
Support levels: 1.2485 1.2440 1.2400
Resistance levels: 1.2530 1.2560 1.2590
GBP/USD Current price: 1.5782
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The GBP/USD nose dived from an intraday high of 1.5873 when risk aversion surged, breaking below the daily ascendant trend line coming from 1.5489, and even completing a pullback to it. With a daily low set at 1.5770 and a strong bearish outlook in the hourly chart, a break below this last should open doors for a stronger downside continuation that may reach 1.5660 if tomorrow’s Bernanke speech does not point for soon to come easing. In the 4 hours chart the bearish tone has increased although price needs to break mentioned support to confirm a cleared downside bias.
Support levels: 1.5770 1.5740 1.5700
Resistance levels: 1.5810 1.5840 1.5885
USD/JPY Current price: 78.61
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Unchanged since last updates, the USD/JPY was pressured by worse than expected US data, falling towards the 78.40 area from where it bounced. As commented on previous updates, the pair remains trapped in range, lacking direction according to technical studies. Capped to the upside by the 78.80 static resistance level, and finding buying interests around 78.10/20 the most, the pair may see a break with tomorrow’s announcements. Technical readings in the 1 and 4 hours charts hold the overall heavy tone seen lately favoring the downside, although price is not actually seen beyond 77.90 mark after recent Japanese authorities jawboning.
Support levels: 78.45 78.10 77.90
Resistance levels: 78.80 79.05 79.30
AUD/USD: Current price: 1.0290
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The AUD/USD traded in a 30 pips range until US session negative sentiment finally pushed the pair below the 1.0300 mark. The bearish trend of the pair remains in place, with the hourly chart showing a healthy 20 SMA heading south above current price and indicators in negative territory, supporting further slides. In the 4 hours chart technical readings point also to a bearish continuation: a break below 1.0270 Thursday high should point for a test of 1.0220/30 area, 38.2% retracement of the latest daily bullish run. A weekly close below, should signal a continuation towards parity for the days to come.
Support levels: 1.0270 1.0225 1.0180
Resistance levels: 1.0310 1.0340 1.0370
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