EUR/USD Current price: 1.2946
Week start where it ended with dollar slightly higher against high yielders; investors start to get anxious over Spain, as the country continues refusing to ask aid request, harming the little confidence the EU gained with the announcement of the OTM. As more Spain delays the request, worse is for the common currency, with latest COT report showing market increased their short positions in the pair for the last 2 weeks. Technically, the pair stalled past Friday at 1.2990, which stands as a strong static resistance level according to daily and 4 hours chart. Early Asia the hourly shows price falling away from its 20 SMA while momentum heads north below the 100 level. In the 4 hours chart technical readings remain positive, although losing upward momentum as price tests 1.2950 support area; failure to extend above mentioned resistance, should lead to a retest of the 1.2900/10 support area, while buying interest will surge if price manages to reach 1.2875 price zone.
Support levels: 1.2950 1.2910 1.2875
Resistance levels: 1.2990 1.3030 1.3070
GBP/USD Current price: 1.6073
The GBP/USD stalled past Friday at the 1.6096, 50% retracement of its latest bearish run, trading in a steady range with the base at the 38.2% of the same retracement at 1.6065. Looking short term heavy, the hourly chart shows price struggling around 20 SMA and pushing mentioned base while momentum heads south approaching its midline. In the 4 hours selling interest seems to increase as latest candles show long upward shadows, while indicators turn lower in positive territory. Stops should lay down below the 1.6060, and if triggered, past week low of 1.5970 comes at sight.
Support levels: 1.6065 1.6020 1.5970
Resistance levels: 1.6095 1.6120 1.6150
USD/JPY Current price: 78.42
The USD/JPY trades sideways in a tight range, giving as usual little or no clues on direction: the hourly chart shows indicators flat around their midlines aiming lower while price stands above 100 and 200 SMA’s. In the 4 hours chart technical readings are also neutral, while still key resistance lies at 78.75, 100 DMA; the pair has been capped below this last since early May this year, so unless a break higher, the upside seems pretty well limited.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.80 79.10 79.30
AUD/USD: Current price: 1.0234
Having gapped higher, the AUD/USD already lost the gained ground and the pair trades back near 1.0230 where it closed on Friday. The hourly chart shows price capped by a bearish 20 SMA as indicators head south below their midlines, supporting some further slides in the pair. In the 4 hours chart technical stance is neutral, with price hovering around a flat 20 SMA, and indicators right below their midlines. Although the pair found a bottom at 1.0150 past week, the former recovery was unable to extend beyond the 1.0300 area, which suggest bears are still interested. Below 1.0200, short term bearish momentum should increase with a break below 1.0150 opening doors for a test of parity during this week.
Support levels: 1.0230 1.0200 1.0170
Resistance levels: 1.0270 1.0300 1.0335
Today's new term is Discount Rate.