EUR/USD Current price: 1.2760
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The EUR/USD has soared on US NFP readings that shown the economy managed to create just 96K new jobs against 123K expected. Unemployment rate decrease to 8.1% only because participation rate fell sharply, which at the end is not great news for the US employment sector. The EUR/USD holds a strong upward momentum according to the hourly chart, although having added over 150 pips today, more gains seem limited. The bullish trend however, will hold in place as long as price stands above the 1.2740 area in the short term, with limited chances of a correction towards 1.2700 area if the level gives up. Ruling trend remains bullish and dips will likely be seen as buying opportunities in the pair.
Support levels: 1.2745 1.2700 1.2660
Resistance levels: 1.2780 1.2810 1.2850
GBP/USD Current price: 1.5992
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Despite its usual delay, the GBP/USD found strength to advance on market sentiment, reaching current daily highs, still unable to breach the 1.6000 key psychological mark. The bullish tone in the hourly chart is quite strong, supporting further gains for the short term, once above 1.6010 immediate resistance zone. In the 4 hours chart indicators also head higher, nearing overbought extremes, which may limit advances. However, falls are also seen limited in the pair with 1.5940 yesterday’s low, acting as immediate support.
Support levels: 1.5940 1.5910 1.5880
Resistance levels: 1.6010 1.6060 1.6100
USD/JPY Current price: 78.29
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The USD/JPY nose dive straight to 78.10/20 area after the news, consolidating recent losses below the 78.40 mark. The hourly chart shows a strong bearish momentum with price back below 100 and 200 SMA’s, and indicators in oversold levels. In the 4 hours chart the bearish tone is also strong with momentum crossing to the downside the 100 level, yet further falls seem limited now, to the 78.10 level. If below, 77.90 and 77.65 supports will be exposed.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.40 78.80 79.10
AUD/USD: Current price: 1.0368
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Aussie approached 1.0400 against the greenback on dollar selloff, yet the AUD/USD seems reluctant to extend its advance amid lack of follow trough in stocks markets. The pair however, holds a strong upward tone in the hurly chart, with indicators still heading north in overbought levels, and price holding above 1.0370 immediate Fibonacci support. In the 4 hours chart the bullish momentum is also strong, with the downside now limited and buyers aligned in between 1.0340/70 area.
Support levels: 1.0370 1.0330 1.0300
Resistance levels: 1.0410 1.0445 1.0480
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