EUR/USD Current price: 1.2814
Major pairs remain comatose with Tuesday almost over, with all eyes focused in US elections results, that will slowly start to appear in the next Asian session. While a winner will naturally surge, the result of the election will likely end with the same outcome when it comes to forex market: the end of uncertainty. Right now, markets are not sure where to go as despite stocks and commodity surged strongly over the last few hours, currencies were unable to move. Still seems a lose/lose situation for greenback, at least in the short term. For the EUR/USD, the pair stands above the 1.2800 mark, still capped by 1.2840 and with a slightly bullish tone in the hourly chart yet far from showing clear definitions: price needs to extend beyond the 1.2880 level to be able to extend its recovery today. Lose of 1.2745 on the other hand, will signal a stronger bearish continuation that will target this week the 1.2610 price zone
Support levels: 1.2810 1.2770 1.2745
Resistance levels: 1.2840 1.2880 1.2920
GBP/USD Current price: 1.5996
Positive markets mood helped GBP/USD to test the 1.6000 level, with the pair trading right below at the time being. Still stuck in range and with technical readings mostly flat according to the hourly chart, the pair needs to post sustained gains above the 1.6020 level to turn short term bullish. Otherwise, the downside continues to be favored ahead of upcoming BOE meeting next Thursday, with the market expecting an extension of the APP. Technical readings in the hourly chart are flat, while in the 4 hours chart the overall bearish tone remains intact as indicators hold in negative territory while price struggles around a strongly bearish 20 SMA.
Support levels: 1.5970 1.5950 1.5910
Resistance levels: 1.6025 1.6065 1.6100
USD/JPY Current price: 80.35
The USD/JPY recovered from the 79.95 posted past Asian session, with the bounce extending slightly above 80.30 immediate support for the next hours. The dominant bullish trend remains in place, as the hourly chart shows price managed to bounce from its 200 SMA, while stands also above 100 one, both acting as dynamic supports. In bigger time frames, indicators lost bearish potential and aim up still near their midlines. Up to now, latest slide from 80.60 seems to have been corrective, and the upside will likely resume if price manages to regain 80.30 level, as long as dips stall at the 79.40/50 price zone.
Support levels: 80.30 80.10 79.70
Resistance levels: 80.60 81.00 81.40
AUD/USD: Current price: 1.0430
Holding to post RBA gains, the AUD/USD spent most of the day consolidating in between 1.0420 and 1.0445 daily high. The hourly chart shows indicators eased from extreme overbought levels turning flat above their midlines, while price held to its range, suggesting more gains are yet to be seen in there. The 4 hours chart presents a limited bullish tone as indicators are losing upward potential still in positive territory, while 20 SMA offers now dynamic support around 1.0370 area.
Support levels: 1.0410 1.0370 1.0335
Resistance levels: 1.0445 1.0470 1.0500