EUR/USD Current price: 1.3115
The euro has continued to move higher on Wednesday and printed a 1-month high versus the dollar lifted by Moody's decision to keep Spain in investment grade and growing speculation Rajoy will seek for a bailout. EUR/USD reached a high of 1.3136 so far and maintains a bullish bias, with indicators in positive territory in 1- and 4-hour charts, with immediate target at 1.3170 (September's double top). However, the pair may have to wait to resume its rally as short-term indicators correct overbought levels. Once above this latter, EUR/USD would be at its highest in 6 months, with 1.3220 coming into view. On the downside, the 1.3070/1.3100 area offers immediate support, ahead of 1.3030 and 1.3000 that should contain dips.
Support levels: 1.3100 1.3070 1.3030
Resistance levels: 1.3140 1.3172 1.3220
GBP/USD Current price: 1.6160
The GBP/USD jumped around 60 pips in the European morning from 1.6115 to reach the highest level since Oct. 5th at 1.6170, where the rally made a pause as indicators gone overbought. Now the cable is testing the 1.6150 level with 0.25% gains so far today. In 1h chart bias is bullish with momentum and CCI in the positive side. Pair should hold above 1.6130 support (previous high zone and 20 hours MA) to contain the downside. In 4 hours chart, indicators are bullish too with the pair holding above 1.6130/45. A break below, will likely push price towards key 1.6100 and 1.6065 support, where some decent buying could be expected.
Resistance: 1.6175, 1.6200 and 1.6215
Support: 1.6130, 1.6100 and 1.6165
USD/JPY Current price: 78.65
Resistance levels: 78.80, 78.90 and 79.00
Support levels: 78.60, 78.45 and 78.30
AUD/USD: Current price: 1.0338
Support levels: 1.0300 1.0270 1.0240
Resistance levels: 1.0355 1.0370 1.0400
Today's new term is Convertibility Risk.