EUR/USD Current price: 1.2818
The EU authorities’ meeting, aimed to agree on new bailout terms for Greece, has not yet come to an end, the main reason why market players had stayed pretty much aside of the EUR/USD this Tuesday. While different proposals are being negotiated, there are little doubts about the outcome: Greece will get more money, and more time. Of course, that won’t solve the underlying problem but will likely be enough to give Euro a temporal boost. Having trade in a mere 50 pips range, the pair holds near its daily high of 1.2820 early Asia, with the hourly chart supporting the upside as indicators head north after bouncing around their midlines, while 20 SMA gains bullish slope, also acting as short term support. The main resistance level to watch comes around 1.2840, 38.2% retracement of the 1.3170/1.2660 fall: once above, the pair may extend its gains towards 1.2890/1.2900 area, strong static support back in October. Failure to deliver, will likely see the pair back nearing 1.2745 area where buying interest may resurge.
Support levels: 1.2770 1.2745 1.2720
Resistance levels: 1.2840 1.2880 1.2910
GBP/USD Current price: 1.5923
Pound posted a shy advance against the greenback stalling at 1.2935 daily high. The GBP/USD bounce from the bottom of the daily descendant channel develops way too slowly, which suggests market is still not ready to buy GBP. The hourly chart shows a quite limited bullish tone, with price hovering around a slightly bullish 20 SMA and indicators barely above their midlines. In the 4 hours chart the upside is also favored according to technical readings, as long as 1.5850 now limits slides.
Support levels: 1.5885 1.5850 1.5820
Resistance levels: 1.5935 1.5960 1.6000
USD/JPY Current price: 81.72
The USD/JPY trades at daily highs right below 81.80 area, where the pair presents several daily highs and lows from early this year, standing as immediate resistance level. Despite the BOJ left its monetary policy unchanged, the Japanese currency continues to weaken against most rivals. Usually, when yen crosses set a trend, there’s little to do against it and pullbacks are among the shyest around: won’t be a surprise to see the pair continue surging without looking back. In the short term and according to the hourly chart bullish momentum seems ready to resurge after current consolidation as the indicators aims back north as 100 SMA crawls higher, now offering dynamic support around 81.20. With a primary target around 82.50, gains above this last will put at sight this year high of 84.17.
Support levels: 81.45 81.20 81.05
Resistance levels: 81.80 82.10 82.50
AUD/USD: Current price: 1.0385
Aussie handle pretty well RBA tips of more cuts this year, falling against the greenback to a daily low of 1.0356 only to bounce back and close the day barely 30 pips below the opening. The hourly chart for AUD/USD, is far from suggesting more gains: 20 SMA caps the upside, along with the 61.8% retracement of the latest daily fall from 1.0457 to 1.0286 around 1.0390 immediate resistance; in the same time frame, indicators turned flat around their midlines, showing not much strength at the time being. In the 4 hours chart technical readings stand in positive territory, yet with a flat neutral stance. If the EU comes to a deal on Greece, risk appetite will drive the pair higher, with 1.0445 as main bullish target for today, while the downside will be exposed on renewed pressure over 1.0360 support area.
Support levels: 1.0360 1.0330 1.0295
Resistance levels: 1.0410 1.0445 1.0490