EUR/USD Current price: 1.3119
Despite market was mostly lead by rumors, the EUR/USD managed to leave the range and soar to a fresh October high at near 1.3120 so far, after completing a perfect pullback to the broken descendant trend line coming from 1.3172 September high. Trading at fresh daily highs and with market in a strongly positive mood, the EUR/USD hourly chart show indicators aiming back north after correcting extreme overbought readings, with 20 SMA now around 1.3020. In the 4 hours chart, indicators hold in positive territory, although not reflecting latest run higher. The upward momentum however, seems quite strong now that the pair trades above 1.3070, former monthly low, with scope for a retest of 1.3172 this Wednesday.
Support levels: 1.3100 1.3070 1.3045
Resistance levels: 1.3140 1.3185 1.3220
GBP/USD Current price: 1.6115
The GBP/USD stalled at 1.6133, failing to overtake the 61.8% retracement of its latest bearish run around 1.6120. The pair however, found short term support in its hourly 20 SMA, that contained the downside most of the day. Indicators in the mentioned timeframe hold in positive territory, although turning flat amid US session range. In the 4 hours chart the technical outlook remains bullish, as long as price stands above 1.6100, 50% retracement of the same rally. Breaks below, will likely push price towards key 1.6065 support, where some decent buying could be expected.
Support levels: 1.6100 1.6065 1.6030
Resistance levels: 1.6130 1.6160 1.6185
USD/JPY Current price: 78.86
Another 20 pips range day for the USD/JPY, with the pair still struggling between offer and demand around key 78.80 price zone. The hourly chart has turned slightly bearish yet price stands now above 100 DMA, giving dynamic support around 78.73. The pair closed the day right above it, first time since late May this year; quite close to call for a definitive break, chances stand to the upside also in the 4 hours chart where momentum heads north above the 100 level. Next key resistance comes now at 79.40, 200 DMA. 4 hours chart has also a slightly positive tone, standing along with bigger time frames: advances above 79.00 is what it takes to see the pair advancing even further towards the 79.40/60 price zone, where it will have to face the next hurdle of sellers.
Support levels: 78.73 78.45 78.10
Resistance levels: 79.10 79.30 79.60
AUD/USD: Current price: 1.0306
The AUD/USD takes the 1.0300 level at the time of writing, as local players come to a risk lead market. The hourly chart shows indicators gaining upward momentum while 20 SMA offers short term support now around key 1.0270 static level. In the 4 hours chart technical readings are also aiming higher with scope for a stronger advanced after the Aussie lagged most of this Tuesday. Immediate resistance comes around 1.0335, 38.2% retracement of its latest daily fall coming from 1.0623. Above 1.0335, the pair may extend its advance towards 1.0400/20 before finding some selling interest; the upside is now favored in the short term, as long as 1.0270 contains slides.
Support levels: 1.0270 1.0240 1.0210
Resistance levels: 1.0335 1.0370 1.0420
Today's new term is Convertibility Risk.