EUR/USD Current price: 1.3331
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The EUR/USD trades slightly lower today, weighted by overall fading risk appetite: both the EU and the US had offered disappointing fundamental data, except by US December Retail Sales data, firmer. Stocks trade lower, with US futures already below Monday’s lows and heading lower, which supports the negative sentiment. The EUR/USD however, briefly broke below 1.3330, base of these last days range, and struggles around the level ahead of US opening. The 1.3300 area remains as key support level to break to expose the downside, as stops gathered below. In the meantime, the hourly chart shows a slightly bearish tone, with price below 20 SMA and indicators in negative territory. 4 hours chart shows indicators still heading south and approaching their midlines, while price founds support around a strongly bullish 20 SMA. Price needs now to stage a recovery above 1.3350, to ease the downward pressure and attempt a recovery towards 1.34 area.
Support levels: 1.3310 1.3277 1.3240
Resistance levels: 1.3350 1.3405 1.3450
GBP/USD Current price: 1.6060
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Bouncing from 1.6030 as yesterday, the GBP/USD hourly chart shows the bearish pressure persists in the pair, as price seems unable to regain 1.6060/70 short term resistance level, while develops below 20 SMA. Technical indicators stand in negative territory, in the mentioned time frame, while the 4 hours chart shows an increasing bearish momentum, with indicators accelerating south below their midlines. However, price needs to extend below the 1.5990 mark to confirm a negative bias, and extend towards the 1.5950 price zone.
Support levels: 1.6025 1.5990 1.5950
Resistance levels: 1.6065 1.6090 1.6120
USD/JPY Current price: 88.76
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The USD/JPY fell strongly today, reaching 88.28 before bouncing. Downside corrective movement could shortly be over, as price is challenging 88.70 resistance area, that converges with 100 SMA in the hourly chart: if price manages to advance further, there’s a chance of a recovery back above 89.00 for today. On the other hand, 200 SMA in the mentioned time frame is not around 88.00 acting as next key support in case of a deeper slide.
Support levels: 88.30 88.00 87.65
Resistance levels: 89.00 89.30 89.65
AUD/USD: Current price: 1.0536
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The AUD/USD feels the pressure, falling to test 1.0520 support today on market sentiment. The pair however, found some buying interest in the area, and managed a limited bounce, caped now below 1.0550 strong static resistance level. The hourly chart shows indicators turning flat in negative territory as price develops below 20 SMA, while in the 4 hours chart, technical readings point also for further slides. If mentioned support gives up, expect a test of 1.0490 area, while a break below this last may trigger another round of strong selling, with 1.0440/60 area then at sight.
Support levels: 1.0520 1.0490 1.0450
Resistance levels: 1.0550 1.0580 1.0600
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