EUR/USD Current price: 1.3020
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The EUR/USD gathered enough strength to break its range to the upside, finding support more in rising stocks than the ECB itself. Is true President Mario Draghi stated that they are ready to help Spain whenever the country needs it, but for the rest, this Thursday speech replicated on the most path month one. The EUR is firmer against most rivals, entering Asian session well bid above 1.3000; although current session may turn thin ahead of tomorrows’ employment data, there’s not much NFP figures can do to help the greenback. A significant drop in unemployment rates is needed and taking a look at September data, I’m more inclined to expect disappointing numbers tomorrow. Anyway and for the EUR/USD, the bullish tone prevails, with hourly chart showing indicators in overbought territory but price firm near daily highs. A break above 1.3030 will see little resistance until the 1.3080/90 price zone, followed finally by the 1.3140 level.
Support levels: 1.3000 1.2970 1.2935
Resistance levels: 1.3030 1.3085 1.3140
GBP/USD Current price: 1.6195
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Pound surged above a couple of resistance levels, fueled by a recovery in oil that erased almost all yesterdays’ losses, and dollar selling, reaching 1.6200 daily high. The hourly chart shows the strong upward momentum entering a consolidative stage, with RSI turning flat around 70 and momentum aiming lower from extreme overbought readings, as 20 SMA heads strongly up. In the 4 hours chart, the technical outlook is strongly bullish: price needs to advance above immediate resistance around 1.6220, to be able to extend back towards the 1.6300 area.
Support levels: 1.6150 1.6110 1.6060
Resistance levels: 1.6220 1.6250 1.6285
USD/JPY Current price: 78.47
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The USD/JPY reached 78.70 fresh 2-week high, losing some ground afterwards, mostly correcting the overbought readings reached with the highs. The hourly chart shows indicators in neutral territory, mostly flat around their midlines, while price holds above 100 SMA which continues aiming higher, keeping the downside limited in the short term. In the 4 hours chart the technical outlook is slightly bullish, although only above 78.80 the pair will be able to advance higher. The USD/JPY is the only pair that will react straight to US data tomorrow, sinking on bad news, soaring on positive numbers.
Support levels: 78.35 78.10 77.80
Resistance levels: 78.80 79.05 79.30
AUD/USD: Current price: 1.0244
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The AUD/USD trades right below the 23.6% retracement of its latest daily fall, having been able to recover form 1.0180 daily low. However, bounces in the pair remain quite limited and selling interest is noticed on recoveries; the hourly chart shows indicators fading near their midlines, although price holds above 20 SMA. In the 4 hours chart 20 SMA capped the upside at today’s high, standing now around 1.0260 offering dynamic resistance, while indicators head back south in negative territory. The bearish trend is not giving sings of being over, and extensions towards 1.0300 are seen now as selling opportunities.
Support levels: 1.0220 1.0180 1.0150
Resistance levels: 1.0260 1.0300 1.0335
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