EUR/USD Current price: 1.3157
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The EUR/USD trades in a tight range between 1.3145 daily low and 1.3190 area, past Asian session early interbank high, consolidating latest gains. With little volume around this Monday, the hourly chart shows indicators flat in neutral territory as price hovers around and also flat 20 SMA, giving no clear clues on short term direction. In the 4 hours chart technical readings are also lacking direction yet as long as price holds above the 1.3125 static support level, the upside is favored, with a break of mentioned high pointing for and advance towards the 1.3250/80 price zone.
Support levels: 1.3150 1.3125 1.3090
Resistance levels: 1.3190 1.3245 1.3280
GBP/USD Current price: 1.6204
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The GBP/USD stands around 1.6200, holding a strong upward tone, as price matched October high around 1.6215 early Asian session. The hourly chart shows 20 SMA with a strong bullish slope, offering dynamic support now around 1.6185, while indicators retrace from overbought level, still standing in positive territory. In the 4 hours chart a timid bullish momentum surges in technical readings, following latest consolidative stage: above mentioned daily high, the pair has scope to extend gains slowly, but steadily, towards 1.6308 this year high.
Support levels: 1.6190 1.6140 1.6110
Resistance levels: 1.6220 1.6265 1.6310
USD/JPY Current price: 83.73
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Having gaped near 100 pips with the weekly opening and Japanese elections’ result, the USD/JPY has mostly filled the gap, trading as low as 83.60 during the European session. The hourly chart shows indicators still heading lower in negative territory, but the downside remains protected by market sentiment, that expects now further easing and therefore yen weakness in the months to come. Dips will remain as buying opportunities with 83.20 now, 100 SMA in the hourly chart, as main support for the upcoming sessions.
Support levels: 83.50 83.20 82.80
Resistance levels: 83.75 84.15 84.45
AUD/USD: Current price: 1.0541
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The AUD/USD holds steady in range, pushing higher as US opens, with the hourly chart showing price finding resistance in it’s 20 SMA and indicators aiming higher still in negative territory. As price develops above the daily ascendant trend line, today around 1.0510, the 4 hours chart shows an increasing bearish tone, as 20 SMA also caps the upside will momentum heads slightly lower in negative territory. Steady gains above 1.0570 however, will deny the possibility of more slides and support and advance towards 1.0620, while losses below 1.0510 will open doors for a bearish movement towards 1.0460 price zone.
Support levels: 1.0530 1.0510 1.0460
Resistance levels: 1.0570 1.0620 1.0650
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