EUR/USD Current price: 1.3210
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Market optimism vanished in a blink mid American afternoon, when the White House announced that it would veto Speaker Boehner’s plan, announced yesterday as plan B. Stocks nose dive and market rushed to buy buck the greenback, right after the EUR/USD reached 1.3307. The hourly chart shows an increasing bearish momentum, as local news are boosting risk aversion, with New Zealand GDP well below expected. Trading below 1.3225 previous short term support and below 20 SMA, the pair may continue its downside run towards 1.3185 next big support. If this last gives up, then beware of a stronger downside move as bear will regain control over the next few days.
Support levels: 1.3185 1.3140 1.3100
Resistance levels: 1.3225 1.3250 1.3290
GBP/USD Current price: 1.6239
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The GBP/USD reached 1.6305, before falling apart on risk aversion, entering Asian session with a strong bearish tone according to the hourly chart, as the pair falls below yesterdays’ low, reaching so fat 1.6237. The daily chart shows a strong reversal candle that anticipates more slides today, valid as long as price holds below 1.6270 immediate resistance level. In the 4 hours chart, price is finding support around 20 SMA while indicators head south in positive territory, correcting extreme overbought conditions. 1.6180 stands as strong support for today, and if below, the downside is exposed back towards 1.6060 area over the next few sessions.
Support levels: 1.6230 1.6180 1.6135
Resistance levels: 1.6270 1.6310 1.6345
USD/JPY Current price: 84.19
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The USD/JPY was dragged lower not only by risk sentiment, yet also by EUR/JPY slide. After reaching a fresh yearly high around 85.00 the pair has just fall below the 84.00 level, bouncing quickly higher as buying interest is still strong: the BOJ completes its two-day policy meeting today, and further facilities can be announced. Otherwise, the pair may continue correcting lower, with 83.20 area then at sight. Dips however, will remain as long term buying opportunities, while risk of more slides will increase below 82.20
Support levels: 84.05 83.50 83.20
Resistance levels: 84.30 84.60 84.90
AUD/USD: Current price: 1.0476
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The AUD/USD remains heavy, trading at daily low still pushing towards 1.0460 support area. The bearish momentum remains strong according to both, 1 and 4 hours chart readings, as indicators head strongly south in negative territory in both time frames. A long term ascendant trend line coming from 1.0148 is today around 1.0390, this month low and probable target of current bearish movement.
Support levels: 1.0460 1.0430 1.0390
Resistance levels: 1.0510 1.0540 1.0590
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