EUR/USD Current price: 1.3047
The EUR/USD trades heavy this Friday, with markets ruled by uncertainty over European developments regarding the banking union. Markets maintain the risk off mode set past Thursday afternoon, after Google and Microsoft missed earning expectations: stocks are down across the world along with gold, although oil holds to small intraday gains. With US Existing Home Sales as the only important schedule data for today, the EUR/USD trades around 1.3047 having been as low as 1.3033 today. Over the past few hours, the pair was unable to extend beyond 1.3050 static resistance level, leaving hourly chart with a negative tone: indicators head south below their midlines, while 20 SMA gains bearish slope, converging now with a strong Fibonacci level around 1.3070. In the 4 hours chart technical outlook is also bearish, with momentum crossing the 100 level; however, price needs to violate 1.3010/20 area, 38.2% retracement of its latest daily run, to confirm further downside momentum.
Support levels: 1.3015 1.2980 1.2945
Resistance levels: 1.3070 1.3100 1.3135
GBP/USD Current price: 1.6039
The GBP/USD extended its slide to 1.6030 area this Friday, capped by strong 1.6065 Fibonacci resistance level. The hourly chart maintains the bearish tone, as indicators aim back lower and price holds below 20 SMA, although mentioned 1.6030 seems to be attracting intraday buyers. In the 4 hours chart the bearish trend is stronger, which helps keep the upside limited. Steady recoveries above 1.6065 will open doors for a rally towards the 1.6100 area; lose of 1.6030 on the other hand, will expose past week low of 1.5970.
Support levels: 1.6030 1.6000 1.5970
Resistance levels: 1.6065 1.6095 1.6130
USD/JPY Current price: 79.29
The USD/JPY holds to its recent gains, posting its seventh positive day in a row. However the pair remains contained by its daily 200 SMA around 79.40, strong resistance level to overcome to confirm more gains. In the hourly chart, the overall stance remains bullish, with 100 SMA offering support around 79.00 and indicators heading higher in neutral territory. 4 hours chart shows also a strong upward momentum, yet US housing data will likely decide the rest of the day’s trend.
Support levels: 79.10 78.73 78.45
Resistance levels: 79.40 79.65 79.90
AUD/USD: Current price: 1.0356
The AUD/USD trades in a quiet range, with a slightly bearish tone according to hourly readings, where price is being capped by 20 SMA and indicators retrace from their midlines. 4 hours chart however remains bullish, with 20 SMA offering support around static 1.0335 level, and indicators aiming higher above their midlines, which suggest the downside remains limited: only below 1.0300 the bears will retake control of AUD/USD with scope then for a slide towards the 1.0240 price zone.
Support levels: 1.0335 1.0300 1.0270
Resistance levels: 1.0380 1.0410 1.0445
Today's new term is Convertibility Risk.