EUR/USD Current price: 1.2942
The EUR/USD trades again intraday unchanged, entering Asian session around 1.2950 for third time in a row. Range dominates the board, and market players remain reluctant, ahead of tomorrows' US NFP data and next week presidential elections along with European Central Banks decisions. Expect little action for current session, with 1.2880/1.2950 the most likely range. Technical readings in the short term had turned neutral although negative as price stands below 20 SMA and indicators below their midlines. In the 4 hours chart, technical readings are also neutral yet turning negative: repeated failure to the upside wills slowly eroded buying interest, exposing the pair for a midterm bearish run over the days to come, more if we close the week below the 1.2880 mark.
Support levels: 1.2920 1.2880 1.2840
Resistance levels: 1.2950 1.2980 1.3020
GBP/USD Current price: 1.6123
The GBP/USD approached 1.6180 resistance, stalling at 1.6174 before giving up most of its intraday gains and close the day barely negative. The daily chart shows a reversal candle formed, although price still stands above the daily ascendant trend line broken past Wednesday; in the hourly chart the technical outlook has turned slightly bearish, lacking strength at the time being due to latest short term range, while in the 4 hours chart technical readings had lost upward potential although holding in positive territory. Barely holding above 1.6110/20 immediate support, the level to watch to the downside comes around 1.6090, where the pair found buying interest over the past few sessions. A break below, will expose 1.6065 key support ahead of 1.6020 area.
Support levels: 1.6115 1.6090 1.6065
Resistance levels: 1.6140 1.6185 1.6220
USD/JPY Current price: 80.16
The USD/JPY continued its slow but steady advance, reaching 80.20 weekly high this Thursday, and trading right below early Asia, holding barely above 80.10 previous high. The hourly chart shows indicators bouncing higher from their midlines and price steady above its moving averages which support the upside, although further gains are now dependant on US employment data: a negative report will surely give the yen strength to recovery, with 79.20/40 area at sight. Buying around those levels however could be an interesting move if reached tomorrow. In the 4 hours chart the upward momentum remains pretty much intact with 80.30 and 80.60 as immediate resistance levels.
Support levels: 80.10 79.70 79.40
Resistance levels: 80.30 80.60 81.00
AUD/USD: Current price: 1.0404
Aussie was on demand as stocks surged, being the preferred high yielder among traders: with Greece in the spotlight and UK data disappointing, buying interest pushed AUD/USD above the 1.0400 level where it stands. The bullish tone is strong for the short term according to the hourly chart, as price pressures the 1.0410 immediate resistance level and top of latest day’s range: steady gains above will see the pair nearing 1.0500 over the upcoming sessions, if risk appetite remains strong and US data don’t disappoint. In the 4 hours chart, a slightly bullish tone is also present, although technical readings remain in neutral territory; slides below 1.0360 will deny the possibility of more gains and expose the base of the range around 1.0300.
Support levels: 1.0380 1.0350 1.0330
Resistance levels: 1.0410 1.0445 1.0480