EUR/USD Current price: 1.3090
The EUR/USD nears the base of its latest short term range with the US opening, as disappointing US employment readings interrupted early risk appetite: stocks and commodities are down across the world, weighting on high yielders. The EUR/USD hourly chart gains bearish tone as price remains capped below a slightly bearish 20 SMA, while indicators stand below their midlines, keeping the upside limited. In the 4 hours chart upward momentum also gives up as indicators turn south from overbought extremes, sill far from signaling a slide. Struggling around 1.3100 area, only a break below 1.3070 may signal a deeper correction, while the upside will remain capped unless a clear break above the 1.3150 level.
Support levels: 1.3070 1.3045 1.3060
Resistance levels: 1.3150 1.3185 1.3220
GBP/USD Current price: 1.6131
The GBP/USD trades between Fibonacci levels, finding support in the 61.8% retracement of its latest daily bearish run around 1.6125, which converges with a short term ascendant trend line coming 1.6020. The hourly chart shows price around a flat 20 SMA while indicators stand in neutral territory, although the pair is just consolidating, with the bullish trend pretty much alive. In the 4 ours chart, indicators look exhausted in positive territory, yet lacking clear signs of direction. Finding support in the 4 hours chart 20 SMA around 1.6130, the pair can turn intraday bearish below 1.6110, looking then for a correction towards 1.6065 strong static support zone.
Support levels: 1.6110 1.6065 1.6030
Resistance levels: 1.6160 1.6185 1.6220
USD/JPY Current price: 79.30
The USD/JPY holds firm above 79.00, having managed to extend its break of the 100 DMA from earlier this week, giving now support around 78.75. The hourly chart shows some bearish divergences, as price continues printing higher highs although momentum turns lower in positive territory; in the same time frame, 100 and 200 SMA’s stand below current price and the distance between both widens, which reflects the upward momentum of the pair. In the 4 hours chart technical readings are also bullish, although next strong resistance comes at 79.40, 200 DMA. Daily close above the level will expose key 80.00 price zone over the upcoming sessions.
Support levels: 79.10 78.73 78.45
Resistance levels: 79.40 79.65 79.90
AUD/USD: Current price: 1.0371
Market positive mood has pushed the AUD/USD to a fresh monthly high of 1.0410, compleating a 50% retracement of its latest daily bearish run. With gold under pressure, the pair has retrace slightly from the level, leaving the hourly chart with a bearish outlook: price holds below 20 SMA and indicators head south nearing their midlines; however, buying interest surged around 1.0360 immediate support. In the 4 hours chart indicators look exhausted in extreme overbought levels, yet corrections will be seen only below the 1.0335 strong support zone.
Support levels: 1.0360 1.0335 1.0300
Resistance levels: 1.0410 1.0445 1.0470
Today's new term is Convertibility Risk.