EUR/USD Current price: 1.3459
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The EUR/USD continues gaining ground, boosted by better than expected US Durable Goods Orders although momentum was not enough to push the pair beyond past Friday high. Trading steadily around the 1.3450/60 area, the hourly chart shows dips generated buying interest, turning indicators back higher from around their midlines, while price stands above a flat 20 SMA. In the 4 hours chart however, technical readings head for more gains, with RSI bouncing around 70 and 20 SMA pressuring higher. Price however, needs to break above 1.3485 to see a clearer advance with 1.3540 area as next short term target.
Support levels: 1.3450 1.3420 1.3380
Resistance levels: 1.3485 1.3510 1.3545
GBP/USD Current price: 1.5715
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Struggling to hold above 1.5700, triple dip recession fears keep Pound under pressure against most rivals, with the GBP/USD having been as low as 1.5703 today. The hourly chart shows price being capped by 20 SMA around 1.5740, while indicators head south in negative territory, pointing for further falls. In the 4 hours chart technical readings also support the downside, with a break below 1.5700 targeting 1.5660 first, and 1.5620 later, this last a daily ascendant trend line coming from 2009 low at 1.3502.
Support levels: 1.5700 1.5660 1.5620
Resistance levels: 1.5740 1.5785 1.5820
USD/JPY Current price: 90.72
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The USD/JPY eased after a fresh high at 91.24 early Asia, although the downside movement remains just corrective. In the hourly chart, indicators head lower barely below their midlines, although price remains well above 100 and 200 SMA’s. In the 4 hours chart, indicators correct extreme overbought readings, yet nothing suggest a deeper correction at sight: as long as above 90.20, the upside continues to be favored in the short term.
Support levels: 90.55 90.20 89.80
Resistance levels: 90.90 91.20 91.60
AUD/USD: Current price: 1.0390
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Quoting at its daily lows, the AUD/USD maintains the bearish tone seen on past updates, weighted also by falling gold that reached a 3-week low of $1652/oz today. US stocks turning negative after disappointing US Pending Home Sales, are also affecting the pair, that now seems limited by 1.0400 area. Technical readings in the hourly chart support the bearish bias, with scope now to test the 1.0300/30 area later today. 4 hours chart presents the same also shows an acceleration in the bearish momentum, which supports the shorter term view.
Support levels: 1.0345 1.0300 1.0260
Resistance levels: 1.0450 1.0490 1.0520
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