EUR/USD Current price: 1.2960
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The EUR/USD bounces slightly up from a daily low of 1.2937, limited now by 1.2970 static resistance zone; movements are also turning limited as volume decrease amid holidays’ in the New World: both the US and Canada markets’ will be closed today. Again, market euphoria has been erased by concerns over Spain and Greece, and the pair lost over 100 pips after its post NFP high of 1.3070; the hourly chart shows indicators aiming up from oversold levels while 20 SMA heads south above current price. In the 4 hours chart, price stands below 20 SMA, converging with the static resistance of 1.2970, as indicators approach their midlines close to give selling signals. Overall, the pair looks pretty bearish today, although breaks below 1.2930 are now required to see further slides over the upcoming sessions.
Support levels: 1.2930 1.2905 1.2880
Resistance levels: 1.2970 1.3000 1.3030
GBP/USD Current price: 1.6022
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Trading at daily lows, the GBP/USD has been on free fall this Monday following news the UK government will need to reinforce public spending cuts in order to start seeing some actual recovery before 2018. With almost no pullbacks, the pair lost near 200 pips in the last 2 trading days, putting hourly indicators in extremely oversold levels. Latest candle opening did little to change the bias, although due to the extension of the fall and lack of volume, some corrections/consolidation may come now. In the 4 hours chart, a strong bearish momentum continues weighting in the pair, signaling farther falls ahead, as long as 1.6060 now contains the upside.
Support levels: 1.6020 1.5980 1.5950
Resistance levels: 1.6060 1.6090 1.6125
USD/JPY Current price: 78.21
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The USD/JPY finally surrendered to selling pressure around 78.80, falling to an intraday low of 78.11, with bounces now being limited by 78.30 area. The hourly chart shows indicators heading south in negative territory while price breached 100 SMA support and tests now 200 SMA. In the 4 hours chart the technical outlook also turned negative, with scope now for a retest of 77.90 static support zone.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.30 78.50 78.80
AUD/USD: Current price: 1.0180
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The AUD/USD has managed to fill the weekly opening gap over current European session, although there has been not follow trough in price so far, trading in between 1.0148 and 1.0190 for most of this Monday. The hourly chary shows price above 20 SMA while indicators stand in neutral territory, while in the 4 hours chart technical readings continue supporting the downside: price develops below 20 SMA currently around 1.0230 while indicators head lower below their midlines. Corrective movements if seen will find strong selling interest aligned around 1.0270 price zone.
Support levels: 1.0150 1.0120 1.0080
Resistance levels: 1.0190 1.0235 1.0270
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