EUR/USD Current price: 1.3190
The EUR/USD consolidates at fresh monthly lows after being hit by worse than expected PMI data early Europe. US weekly unemployment claims and CPI missed expectations, and despite core CPI improved, risk remains to the downside: stocks trade around yesterday’s close having extended their slide earlier today. The EUR/USD bounced from its daily low of 1.3166, yet so far seems unable to overcome 1.3200, where late sellers are joining the party. The hourly chart shows indicators turning flat in negative territory, reflecting latest consolidation, while 20 SMA heads lower well above current price. In the 4 hours chart technical readings hold to a strong bearish momentum, and chances of a move higher remain quite limited. The pair may extend its slide now only below 1.3150 support area, while 1.3245 will likely halt any attempt of recovery.
Support levels: 1.3150 1.3110 1.3080
Resistance levels: 1.3210 1.3245 1.3290
GBP/USD Current price: 1.5253
The GBP/USD saw some relief today, trading in positive territory after UK better than expected public figures, with the pair bouncing around 100 pips from its daily low of 1.5130. Short term bullish according to the hourly chart, the pair remains below key 1.5260 area, past June monthly low and immediate resistance area. Failure to overcome this last, should see the pair resuming the downside. In the 4 hours chart indicators point for an upward corrective movement, coming from extreme oversold readings; however, the relief rally may be limited, with selling pressure expected to increase on approaches to the 1.5320 price zone
Support levels: 1.5235 1.5200 1.5170
Resistance levels: 1.5260 1.5320 1.5360
USD/JPY Current price: 93.23
The USD/JPY has been as low as 92.78 dragged by EUR/JPY selloff, although quickly recovered above the 93.10 price zone. The hourly chart show indicators aiming slightly higher still in negative territory, while price stands below its moving averages both around 93.50. In the 4 hours chart, technical readings turned bearish, while price stands above its 100 SMA. The picture remains unclear at current levels, with the downside favored on a break below mentioned daily low.
Support levels: 93.10 92.80 92.40
Resistance levels: 93.50 93.80 94.05
AUD/USD: Current price: 1.0240
The AUD/USD tested the 1.0220 support area, and bounced higher towards 1.0270 static resistance level, only to turn back lower. The hourly chart shows indicators capped by their midlines, with price now below 20 SMA, which supports another slide. In the 4 hours chart technical readings hold the bearish tone, and as long as below mentioned 1.0270, the downside is favored with a break below daily low favoring a run towards the 1.0160 price zone.
Support levels: 1.0225 1.0190 1.0160
Resistance levels: 1.0270 1.0300 10330