EUR/USD Current price: 1.2883
Japan markets will be closed on holiday today, and with no major events schedule, Asian session will likely be a soft one; as comment on previous update, the pair stalled right below 1.2900, 50% retracement of 1.3170/1.2660 fall, and with the US closed, the pair dedicated to consolidate its recent gains. A short term dip reached 20 SMA in the hourly chart, currently around 1.2860, attracting some shy buying interest buy maintaining the bullish bias alive. In the 4 hours chart technical readings are losing upward potential, yet maintaining the overall upward bias. From now on, a battle may develop as the pair present a strong static resistance area in between 1.2900 and 1.2920, also mentioned Fibonacci level: only a clear break and steady gains above this area will open doors for further advances, with next short term bullish target at 1.2950/60 area, 61.8% retracement of the same rally and strong static resistance zone. Falls should be understood as corrective and buying opportunities, as long as 1.2800 now holds the downside.
Support levels: 1.2860 1.2830 1.2800
Resistance levels: 1.2910 1.2955 1.2985
GBP/USD Current price: 1.5942
Pretty much unchanged from mid European morning, the GBP/USD upward momentum was interrupted around 1.5977, from where the pair fell back to test support around 1.5920. So far, the level held although the pair holds to a bearish tone according to the hourly chart, as indicators head south below their midlines and 20 SMA caps the upside. 4 hours chart shows an increasing bearish potential with momentum nearing the 100 level and price hovering around 20 SMA; still, only a break below mentioned support will confirm a negative day for Pound, with 1.5850 then at sight.
Support levels: 1.5920 1.5885 1.5850
Resistance levels: 1.5985 1.6025 1.6065
USD/JPY Current price: 82.44
The USD/JPY reached 82.82 high, from where a limited corrective movement began. Holding to its recent strength however and making a pause rather than pointing for a deeper retracement, the hourly chart shows indicators flat around their midlines, while 100 and 200 SMA’s continue to aim higher. The daily chart, offers a quite interesting picture: price failed to close the day above the 78.6% retracement of this year bearish run, while price closed barely red first time in 7 days. Candle formation suggests a reversal, though I won’t be expecting much of a dip without buying interesting surging. Main support, is around 81.50, 61.8% retracement of the same rally, while gains above daily high, will target 83.35 first, and 84.17 later, this last the yearly high.
Support levels: 82.10 81.80 81.50
Resistance levels: 82.60 82.85 83.35
AUD/USD: Current price: 1.0385
No changes in AUD/USD that continues to trade inside its 100 pips usual range, still trendless. The hourly chart shows a slightly positive tone, yet with 1.0423 weekly high will likely hold the upside in current session. 4 hours chart also presents a neutral technical stance with price hovering around a flat 20 SMA. Playing the range continues to be favored for this last day of the week.
Support levels: 1.0330 1.0295 1.0260
Resistance levels: 1.0370 1.0410 1.0445