EUR/USD Current price: 1.3406
Having been under pressure most of this Monday the EUR/USD surged mid American afternoon after ECB’s Weidmann said the euro is not “seriously overvalued”. The pair surged to an intraday high of 1.3427 slipping back to pre new levels quick enough. Leading the board early Asian, is yen weakness after US treasury Brainard said the US supports Japan policy to beat deflation: EUR/JPY surged strongly, preventing EUR/USD slides, despite dollar is higher against most of its rivals. The hourly chart, shows price back above its 20 SMA and indicators in positive territory, although technical readings lack upside momentum. In the 4 hours chart, 20 SMA with its bearish slope offered resistance around mentioned daily high, while momentum heads south below 100, which suggest the upside remains unclear: price needs to advance and settle above the 1.3440 area to be able to erase the intraday bearish tone.
Support levels: 1.3350 1.3300 1.3250
Resistance levels: 1.3440 1.3485 1.3510
GBP/USD Current price: 1.5657
The GBP/USD was under constant selling this first day of the week, holding a couple pips above its daily low of 1.5652 at the time being. The hourly chart shows indicators still pointing for a bearish continuation after a limited upside correction, with 1.5680 now as immediate short term resistance. In the 4 hours chart momentum heads south below 100 with a nice selling signal triggered early Monday, while price holds below 20 SMA. Key support now is the 1.5620/30 area, where the pair has past week low, and a long term ascendant trend line coming from the historical low of 2009 round 1.3502: stops gathered below, if triggered, may see a stronger slide with 1.52 now at sight,
Support levels: 1.5650 1.5625 1.5580
Resistance levels: 15680 1.5710 1.5740
USD/JPY Current price: 94.28
The USD/JPY trades at its highest level in over 2 years after US support to yen weakness, with the pair having been as high as 94.45 so far. The hourly chart shows momentum heading strongly up while price corrects slightly lower, although with the pair now above 94.00, late buyers may jump in around this last. In the 4 hours chart technical indicators show a strong upward momentum, supporting the shorter term view.
Support levels: 94.05 93.70 93.30
Resistance levels: 94.45 94.80 95.10
AUD/USD: Current price: 1.0252
The AUD/USD challenges the 1.0260 static support level, trading at its lowest level in 4 months. The hourly chart shows indicators gaining bearish momentum, while the upside was limited by a bearish 20 SMA now around 1.0280. The 4 hours chart shows also a strong bearish momentum, which suggests further falls ahead for the pair: 1.0220 is next ahead of 1.0170 for today, while approaches to the 1.0300/30 area should be seen as selling opportunities.
Support levels: 1.0220 1.0170 1.0140
Resistance levels: 1.0290 1.0330 1.0370