EUR/USD Current price: 1.2566
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The EUR/USD reached a daily high of 1.2623 during the European trading, only to fell towards the base of recent range at 1.2550 early US session. Investors are on their toes with market talks coming from Europe, and hopes on an ECB bond buying announcement triggered a spike to 1.2600 area that quickly faded. US data was for from encouraging, with ISM Manufacturing index dropping below the 50 mark preventing further dollar advances. The pair has already failed twice to overcome the 1.2620/30 area, which should weight on buyers, pushing them to desist, or at least cover some positions. However, a stronger slide may come if 1.2550 immediate support gives up. Technical readings in the hourly chart show indicators in negative territory and price capped below 20 SMA, while the 4 hours chart shows also an increasing bearish momentum, with price holding right below 20 SMA but momentum crossing upside down the 100 SMA. Latest defense for buyers come at the 1.2480 area.
Support levels: 1.2550 1.2520 1.2480
Resistance levels: 1.2600 1.2630 1.2680
GBP/USD Current price: 1.5872
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Pound advanced against the greenback, failing again to break above the 1.5910/20 area, strong static resistance as per being a key Fibonacci retracement, the 61.8% of the latest daily fall. From the fundamental front, the UK continues to show sign of slowdown, as construction PMI fell to 49, missing expectations of a plain 50. For current Asian session the pair presents a slightly bearish tone according to the hourly chart, with 20 SMA gaining bearish slope and capping the upside now around 1.5880, and indicators heading south below their midlines. In the 4 hours chart technical readings gain bearish tone, yet further confirmation will come on a break below 1.5840 immediate support, looking then for a test of key 1.5770 area.
Support levels: 1.5840 1.5810 1.5770
Resistance levels: 1.5880 1.5915 1.5950
USD/JPY Current price: 78.42
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The USD/JPY saw a shy recovery on dollar demand, managing to test the 78.45 resistance level, and trading right below most of the American afternoon. Price suggests some upward momentum yet to come, although technical indicators remain flat in neutral territory, without clear direction at the time being. In the 4 hours chart readings are also flat, pointing for further range for the upcoming sessions.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.45 78.80 79.05
AUD/USD: Current price: 1.0227
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The AUD/USD extended its fall this Tuesday, reaching 1.0214 finding support as expected in the 38.2% retracement of its latest bullish daily run. The bearish trend seems ready to gather momentum in the daily chart, as indicators head south below their midlines while price posts lower lows and lower highs daily basis. For the short term, the hourly chart shows indicators slightly exhausted to the downside although price seems unable to correct higher, mow limited by the 1.0250 price zone. In the 4 hours chart, the healthy bearish trend continues developing, supporting the overall dominant trend.
Support levels: 1.0215 1.0180 1.0140
Resistance levels: 1.0250 1.0280 1.0310
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