EUR/USD Current price: 1.2825
A slide to 1.2735 earlier today due disagreement on Greek future, was a great buying opportunity according to market players, that pushed EUR/USD back above the 1.2800 mark. US better than expected PMI and employment data, keeps stocks bided and therefore, dollar weak particularly against its European rivals. Regardless the continued market talks and headlines regarding the troubled EU country, market believes that sooner or later, Greece will receive whatever money is needed to avoid default. Pretty wild, personally I think we are not too far away from seeing this house of cards falling apart. But in the meantime, the EUR/USD bullish tone persists, with the pair trading at fresh weekly high and nearing 1.2840, 38.2% retracement of the latest daily fall. Steady gains above this last will expose the 1.2890/1.2900 static resistance zone.
Support levels: 1.2800 1.2770 1.2745
Resistance levels: 1.2840 1.2880 1.2910
GBP/USD Current price: 1.5937
The GBP/USD continues its slow crawl higher after bottoming at 1.5826 past week, extending today up to 1.5947 by the time of writing. Still slowmo, the hourly chart supports more gains ahead, as indicators head north in positive territory while price advances above its 20 SMA. In the 4 hours chart indicators are bouncing from their midlines despite price is unable to show some momentum; still, the upside is favored as long as price holds above the 1.5920 mark in the short term.
Support levels: 1.5920 1.5885 1.5850
Resistance levels: 1.5950 1.5990 1.625
USD/JPY Current price: 82.44
The USD/JPY finally reached the expected 82.50 level, as Japanese exports reached a 3 years low, leading to the worse trade deficit in 30 years, while LDP party continues screaming for drastic easing; whether they win (or not) elections, is something yet to be seen, but in the meantime, the JPY weakens strongly against most rivals. The USD/JPY hourly chart shows indicators still heading higher despite in overbought territory, while price consolidates near its high, showing no much aims of giving up. In bigger time frames, technical readings also support the upside, although limited corrections, or some consolidation could be expected before a new leg up. Steady gains above 82.50 will expose 83.35 area, next strong resistance level ahead of yearly high of 84.17.
Support levels: 82.10 81.80 81.50
Resistance levels: 82.50 82.95 83.35
AUD/USD: Current price: 1.0357
Aussie grinds lower against the greenback, despite general market optimism with the pair so far finding support in the 38.2% retracement of its latest daily fall around 1.0350. The hourly chart however holds a bearish tone, with price below 20 SMA and indicators heading south below their midlines, pointing for a retest of key 1.0330 level. In the 4 hours chart technical readings are also biased lower, supporting the shorter term view. Still only steady losses below mentioned 1.0330 will confirm a stronger slide, with 1.0260 then at sight.
Support levels: 1.0330 1.0295 1.0260
Resistance levels: 1.0370 1.0410 1.0445