EUR/USD Current price: 1.3058
The EUR/USD finally bounced from the 38.2% retracement Fibonacci support around 1.3020, although low volumes along with an almost empty calendar, prevent the pair from moving too much. The hourly chart shows recent upward momentum stalled at 1.3076 daily high, with price slowly retreating ahead of US opening; indicators hold in positive territory, although turn lower, while 20 SMA stands mostly flat around 1.3030. In the 4 hours chart price stalled at 20 SMA, while indicators turned flat in neutral territory, giving no much clues on direction. Regardless the positive tone, it’s not yet enough to confirm a return of the common currency: either a strong break above today’s high, or a fall below 1.3020 area, will provide with a clearer intraday trend; either wise range will prevail until something shocks markets.
Support levels: 1.3020 1.2980 1.2945
Resistance levels: 1.3070 1.3100 1.3140
GBP/USD Current price: 1.6031
GBP/USD comeback from sub 1.6000 levels stalled at 1.6051 today, with the hourly chart showing now an increasing bearish tone after price failed to reach 1.6065 key resistance area. Indicators in the mentioned time frame turn south still in positive territory, while 20 SMA holds a strong bullish tone right below current price, offering short term support. In the 4 hours chart price retreats from a strongly bearish 20 SMA, usually a bearish signal, as indicators move slightly higher in negative territory, diverging with market sentiment. Unless a clear recovery above 1.6065, the upside seems quite limited for today, with chances of a retest of 1.5970 monthly low if local share markets continue losing ground.
Support levels: 1.6030 1.6000 1.5970
Resistance levels: 1.6065 1.6095 1.6120
USD/JPY Current price: 79.82
Disappointing Japanese news sent yen nose diving against major rivals, with USD/JPY finally breaking above 200 DMA, currently around 79.40 and immediate support level. The hourly chart shows indicators in extreme overbought levels, although price consolidates near the highs, aiming to test 80.00 psychological level. Bigger time frames also point to for further gains, although mentioned 80.00 won’t be an easy level to take; however, the upside is favored as long as 79.40 contains dips.
Support levels: 79.40 79.10 78.73
Resistance levels: 80.00 80.30 80.60
AUD/USD: Current price: 1.0317
Little changed from past updates, AUD remained capped by 1.0335 strong static resistance level, trading against the greenback in a tight range. The hourly chart shows price hovering around a flat 20 SMA while indicators hold in neutral territory, giving no clues on direction for the short term. In the 4 hours chart the bearish momentum has lost strength although the downside continues to be favored: key support lies around 1.0290 area, and breaks below should see a continued slide towards the 1.0250 level.
Support levels: 1.0290 1.0250 1.0210
Resistance levels: 1.0335 1.0380 1.0410
Today's new term is Convertibility Risk.