EUR/USD Current price: 1.3176
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Market holds a quite neutral tone this Tuesday, with majors trapped in tight ranges yet dollar still weak across the board. The EUR/USD tested 1.3188 high finding buyers in the 1.3150 area and with not much aims to go anywhere any time soon. The hourly chart shows indicators flat around their midlines, while in the 4 hours chart indicators are also flat, yet the upside remains favored as per price behavior. Only a break below 1.3125 will jeopardize short term bullish trend, favoring a corrective movement towards 1.3070/90 price zone.
Support levels: 1.3150 1.3125 1.3090
Resistance levels: 1.3190 1.3245 1.3280
GBP/USD Current price: 1.6224
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The GBP/USD reached 1.6230 so far, holding a strong bullish tone according to the hourly chart, as indicators head north after bouncing on their midlines and price stands above 20 SMA. However, and with low volume around, the advance remains limited, although chances of a retracement are low. As long as above 1.6220 now, the pair will maintain the upward bias, with 1.6270 as next probable bullish target.
Support levels: 1.6220 1.6195 1.6140
Resistance levels: 1.6270 1.6310 1.6345
USD/JPY Current price: 83.98
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The USD/JPY struggles in the 84.00 area, recovering the bullish tone in the hourly chart after finding support around 83.75 earlier today; the positive momentum is also strong in bigger time frames, and the upside remains favored regardless increasing risk aversion. The pair needs now to overcome 84.15 to be able to extend its advance near 85.00 over the upcoming days.
Support levels: 83.75 83.50 83.20
Resistance levels: 84.15 84.45 84.90
AUD/USD: Current price: 1.0520
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The AUD/USD broke below the daily ascendant trend line coming from this month low of 1.0392, currently around 1.0525 and immediate short term resistance, accelerating lower on stocks slides. Failure near 1.0600 past week, along with extreme long positions in AUD according to latest COT report, favor a deeper correction once if 1.0510 static support area gives up, with 1.0460 then at sight. Both 1 and 4 hours charts show indicators heading lower below their midlines, with an increasing bearish momentum, supporting the downward move. Price needs at least to recover 1.0540 to erase the bearish tone and be able to retest recent highs around 1.0590, not likely at the time being.
Support levels: 1.0510 1.0460 1.0430
Resistance levels: 1.0525 1.0540 1.0590
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