EUR/USD Current price: 1.2746
Easing on concerns over Greece, as weekend talks point for agreement this week of two years funding for the troubled country, are pressuring dollar at the weekly opening as the American currency gaps to the downside against most rivals. The EUR/USD trades however right above the 1.2740 area, the comfort zone where bulls and bears seem to be balanced since last week. The hourly chart shows price above a bearish 20 SMA, while momentum heads higher in negative territory, approaching its midline; in the 4 hours chart technical readings stand in neutral territory, although also slightly positive. Having been capped by the 1.2800 area these past days, that’s the level to beat to see some upward momentum towards the 1.2880 price zone. Bulls will get in trouble if price falls below the 1.2690 level, with 1.2660 as immediate support ahead of 1.2610.
Support levels: 1.2720 1.2690 1.2660
Resistance levels: 1.2765 1.2810 1.2840
GBP/USD Current price: 1.5887
The GBP/USD continues consolidating in the base of the daily descendant channel, limited to the upside by 1.5920 static resistance level. The hourly chart shows price aiming slightly higher and standing above 20 SMA, yet indicators lacking upward momentum and turning south with the opening, showing not much strength at the time being. In the 4 hours chart however, seems bulls are taking over the pair, as technical readings aim higher with a bit more strength. Price however, needs to establish above mentioned 1.5920 area to be able to extend its advance towards the 1.60 area.
Support levels: 1.5850 1.5820 1.5770
Resistance levels: 1.5920 1.5960 1.6000
USD/JPY Current price: 81.39
The USD/JPY continues grinding higher, trading near past week high of 81.45, and holding an overall bullish tone both in the short and the midterm. The hourly chart shows price well above its moving averages as momentum heads higher above 100, while in the 4 hours chart indicators start showing some bearish divergences: a break higher however, will deny the possibility of a downside correction and open doors for a ride towards 82.50 main bullish target for this week.
Support levels: 81.10 80.80 80.60
Resistance levels: 81.45 81.70 82.00
AUD/USD: Current price: 1.0349
Aussie gapped higher and holds to early gains trading back above the 1.0330 level, and even above past Friday high, suggesting some buying interest around; technical readings in the hourly chart however remain mostly neutral, showing no actual strength. The immediate resistance area comes at 1.0370 and once above, will expose 1.0410 level. Only above this last the pair will regain its upward momentum, not quite clear at the time being; will likely depend on what RBA Minutes have to offer later this week. In the 4 hours chart indicators remain in negative territory although heading higher, while 20 SMA offers dynamic resistance around mentioned 1.0370 level. The downside seems limited by buying interest around 1.0290, and only a clear break below will give some bearish potential to the pair.
Support levels: 1.0330 1.0290 1.0260
Resistance levels: 1.0370 1.0410 1.0445