EUR/USD Current price: 1.3072
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Steady in a 50 pips range since early Europe, the EUR/USD traders are looking for a reason to move the pair. With no news on bank crisis, yields differentials or fiscal cliffs around, market is patiently waiting for a trigger. US stocks hover around past Friday’s close ahead of today’s opening, giving no clues ahead of next session. The EUR/USD hourly chart, shows price caped below 20 SMA, as indicators head lower below their midlines, keeping the short term outlook bearish. In the 4 hours chart indicators corrected extreme oversold readings reached last week, and remain in negative territory, which suggest not enough buying interest around. Lose of 1.3000 should open doors for a continuation towards 1.2950 over the upcoming sessions.
Support levels: 1.3040 1.3000 1.2970
Resistance levels: 1.3085 1.3120 1.3145
GBP/USD Current price: 1.6063
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The GBP/USD trades unchanged intraday, still around 1.6065 static level. Having been unable to extend gains over Asian hours, the pair enters US morning with a limited bearish tone in its hourly chart, as indicators stand below their midlines and price stands barely above a flat 20 SMA. In the 4 hours chart, indicators had already corrected extreme oversold readings yet hold in deep red, while 20 SMA offers now dynamic resistance around 1.6080. Unless a clear recovery above this last, the downside continues to be exposed with a break below 1.5990 favoring a retest of 1.5820 November lows.
Support levels: 1.6025 1.5985 1.5930
Resistance levels: 1.6085 1.6120 1.6170
USD/JPY Current price: 87.82
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A temporal short term ceiling has been set in USD/JPY around 88.40, as the pair failed to take it over early Asia and despite Abe’s claims of a weaker yen during the weekend. The hourly chart presents a bearish tone as indicators head south below their midlines, yet price has managed to bounce from the 87.60 area, post NFP lows. As long as above, there’s not much room for a strong slide in the pair today. 100 SMA in the mentioned time frame around 87.40 will also act as support if reached, so unless below this last, the downside seems pretty much limited. In bigger time frames, indicators ease from overbought levels, still far from turning lower. Breach of 88.40 on the other hand, will offer room for more gains, looking then for the 89.10/30 price zone.
Support levels: 87.60 87.40 87.10
Resistance levels: 88.10 88.40 88.70
AUD/USD: Current price: 1.0495
View Live Chart for the AUD/USD (select the currency)
Early AUD/USD upward momentum so the price stalled again below 1.0520 area, immediate resistance level. While price consolidates around 1.0500, the hourly chart shows indicators struggling around their midlines, although price stands above a bullish 20 SMA. In the 4 hours chart and despite technical readings are slightly positive, some bearish momentum is building up according to price action and latest reversal candle formation. However unless a break below 1.0470 static support level, the pair will likely hold its latest gains.
Support levels: 1.0470 1.0430 1.0400
Resistance levels: 1.0525 1.0550 1.0600
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