EUR/USD Current price: 1.3051
Dollar is slowly advancing against most rivals, as corrections have finally started following last week selloff. The EUR/USD is being pressured by peripheral stocks markets, with Spain and Italy leading the way down. Market talks on the Spain possible bailout are also limiting optimism among investors, with US stocks falling into red and the pair reaching a daily low of 1.3037 so far. The EUR/USD hourly chart shows price below 20 SMA with indicators standing in negative territory, still under sellers’ control. In the 4 hours chart the bearish potential increases with indicators heading lower and price right below 20 SMA, with 1.3000 now in focus, as long as below 1.3080 static resistance zone
Support levels: 1.3035 1.3000 1.2970
Resistance levels: 1.3080 1.3110 1.3140 1.3180
GBP/USD Current price: 1.6235
The GBP/USD consolidates in a steady 50 pips range between 1.6220 and 1.6270, with the hourly chart showing a pretty neutral stance: price hovers around a flat 20 SMA while indicators stand around their midlines. The dominant trend however, is still bullish with the pair firm in the 1.6200 area. The 4 hours chart shows indicators still in positive territory yet lacking momentum, and 20 SMA offering dynamic support at current levels. Corrective downside movements may come with a break below 1.6200 with 1.6160 being next, a daily ascendant trend lone coming from 1.5825.
Support levels: 1.6210 1.6160 1.6120
Resistance levels: 1.6265 1.6300 1.6340
USD/JPY Current price: 78.62
The USD/JPY holds in its 78.40/80 comfort zone, with not much technical clues coming from the hourly chart, mostly consolidating recent comeback from 77.12 lows. While indicators remain in neutral territory in the hourly chart, price is developing above 100 and 200 SMA’s which keeps the upside favored; in the 4 hours chart indicators turned flat near overbought levels, far from suggesting a slide. Renewed upward strength may be seen with a break above 79.10, quite unlikely for the short term.
Support levels: 78.40 78.10 77.90
Resistance levels: 78.80 79.10 79.35
AUD/USD: Current price: 1.0437
A dovish RBA past Asian session along with current dollar advance, keeps the AUD/USD intraday bearish. The hourly chart shows price below 20 SMA and indicators heading south below their midlines, with the upside now limited by 1.0460/70 static resistance zone. In the 4 hours chart the technical outlook is firmly bearish, although a break of 1.0400 is now required to confirm the move towards 1.0300/30 price zone.
Support levels: 1.0430 1.0390 1.0350
Resistance levels: 1.0470 1.0500 1.0535
Today's new term is NIFTY.