EUR/USD Current price: 1.3185
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Draghi shaded optimism over the EU, after latest ECB monetary policy meeting: while risk remains to the downside, inflation targets are anchored, and fundamentals have stabilized. With a positive speech, Mario Draghi downplayed odds of a near-term rate cut, sending EUR/USD to a daily high of 1.3194, breaking now above the 61.8% retracement of its latest daily fall, and with scope to continue advancing after 1.3150 gave up. The hourly chart shows price consolidating near the high while indicators present a strong upward momentum, supporting more gains to come. In the 4 hours chart the upward momentum is also strong, with 1.3220 now as next short resistance level to overcome to see an approach to the 1.33 highs before the week is over.
Support levels: 1.3150 1.3110 1.3070
Resistance levels: 1.3220 1.3255 1.3300
GBP/USD Current price: 1.6089
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The GBP/USD benefited from Euro strength, after the BOE left the UK economic policy unchanged: the pair broke above a short term descendant trend line, and even completed a pullback to it before surging to daily highs right below the 1.6100 mark, above 1.6065 now immediate support. The hourly chart shows a strong upward momentum, that will likely persists over the rest of the day, and as long as above mentioned 1.6065. Sustained gains above 1.6100 will expose 1.6170 strong resistance level during the upcoming sessions.
Support levels: 1.6065 1.6020 1.5990
Resistance levels: 1.6100 1.6140 1.6170
USD/JPY Current price: 88.17
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The USD/JPY consolidates above 88.00 today, little affected by market woes. Still caped below 88.40 static resistance level, short term readings are mostly neutral, with indicators around their midlines and moving averages losing the strong bullish slope seen over the last days. In the 4 hours chart however, the bullish tone persists, with a break above 88.40 exposing 89.30 price zone in the short term.
Support levels: 88.00 87.70 87.40
Resistance levels: 88.40 88.80 89.30
AUD/USD: Current price: 1.0573
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Aussie surged to December high against the dollar, at 1.0585, and trades steady near the level, ahead with US opening. The hourly chart shows indicators heading higher despite in overbought levels, while in the 4 hours chart, technical readings suggest more gains yet to come. The 1.0600 psychological level may be challenged today, and will be key for the midterm outlook of the pair as steady gains above will give it the potential to reach 1.0800 over the next few days.
Support levels: 1.0550 1.0520 1.0490
Resistance levels: 1.0600 1.0660 1.0700
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