EUR/USD Current price: 1.3079
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The EUR/USD finally broke lower, falling as low as 1.3068 ahead of the US opening, and with a strong bearish tone according to the hourly chart. After spending most of the day in a tight 30 pips range, general risk aversion helped the pair trip stops below the 1.3100 level, and now finds short term support around 1.3070, 23.6% retracement of its latest fall. The 4 hours chart shows 20 SMA converging with the Fibonacci level also offering support, while indicators turn south around their midlines. With intraday highs from last days around mentioned level, a break below should expose the 1.3000 area for the upcoming sessions.
Support levels: 1.3070 1.3040 1.3000
Resistance levels: 1.3120 1.3145 1.3190
GBP/USD Current price: 1.6061
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The GBP/USD turned lower, testing now 1.6065 static support level, and with the hourly chart showing indicators accelerating below their midlines, as 20 SMA gains bearish slope above current price. Still inside the weekly range, the 4 hours chart also gains bearish tone, as price broke below a flat 20 SMA while indicators retrace from their midlines. Still price needs to lose the 1.6025 level to see a stronger bearish momentum that will expose a test of key support at 1.5990.
Support levels: 1.6025 1.5990 1.5940
Resistance levels: 1.6120 1.6170 1.6210
USD/JPY Current price: 87.42
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The USD/JPY extended its latest slide, breaking below 87.60 static support. The hourly chart shows price also below its 100 SMA, which now caps the upside around mentioned level. Indicators however, head north in positive territory, so far diverging of price action. Daily low has been set at 87.22, acting now as immediate short term support. In bigger time frames, indicators continue heading lower with momentum now below the 100 level, supporting a downward continuation at least in the short term. 86.80 seems the next level to watch for buyers.
Support levels: 87.25 87.00 86.80
Resistance levels: 87.60 88.00 88.40
AUD/USD: Current price: 1.0492
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The AUD/USD maintains the 1.0460/1.0520 range, which leaves the short term outlook neutral at the time being. Disappointing trade balance in Australia prevented the pair from extending its advance early Asia, although there are no signs the bullish trend will be challenged: dips continue to be seen as buying opportunities, as per long lower shadows in the mentioned time frame. In the 4 hours chart technical picture is still bullish, yet price needs to break above 1.0525 to confirm more gains ahead.
Support levels: 1.0460 1.0430 1.0400
Resistance levels: 1.0525 1.0550 1.0600
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