EUR/USD: dominated by bulls

EUR/USD Current price: 1.3566

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Long day has come an end in the US, leaving greenback mostly weak, particularly against its European rivals. While ADP survey printed 192K, increasing hopes for a recovering US economy, it was a few minutes later that Advanced annualized GDP printed a -0.1%, overshadowing hopes of a stronger greenback. The FED come later maintaining is economic policy intact amid a “pause in economic activity growth in recent months”, which helped EUR/USD set a fresh high of 1.3586. While volume remains low at this time of the day, the EUR/USD bullish trend seems here to stay. In the short term however, a downward corrective movement may be seen during current Asian session, as stocks turned south with earning reports, while the hourly chart shows indicators exhausted to the upside in overbought territory. Selling however, is not the preferred strategy, but patiently waiting for buying on dips. Key support is now former resistance at 1.3480 price zone, past year high.

Support levels: 1.3540 1.3510 1.3480

Resistance levels: 1.3580 1.3620 1.3660

GBP/USD Current price: 1.5799

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Pound underperformed against the dollar, as despite trading intraday positively, the pair remains capped by 1.5820, neckline of the double top set around 1.6310. the hourly chart shows indicators heading slightly higher in positive territory while price stands above an also bullish 20 SMA, yet there’s not much buying interest around for Pound. The 4 hours chart also shows a shy upward tone developing, although price needs to firm up above mentioned 1.5820 to be able to erase the current bearish tone and attempt more gains. 

Support levels: 1.5785 1.5740 1.5700 

Resistance levels: 1.5820 1.5860 1.5900

USD/JPY Current price: 91.04

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Standing back above the 91.00 level, the USD/JPY bullish trend remains firm in place: the pair saw a dip to 90.83 after US early data, erased quickly buy buyers that take almost any chance to jump in the party. The hourly chart shows 100 SMA offering dynamic support around mentioned low, while indicators stand flat in positive territory. In bigger time frames, technical readings also stand above their midlines, with any of each showing real upward momentum. However, and despite the lack of strength, there are no signs the pair may reverse in the short term.

Support levels: 90.70 90.30 89.80 
Resistance levels: 91.20 91.60 92.00

AUD/USD: Current price: 1.0413

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Aussie pressures the base of its range against the greenback, standing near the 1.0400 area. The hourly chart shows indicators accelerating lower below their midlines, with 20 SMA gaining bearish slope above current price. In the 4 hours chart, price is now below 20 SMA wile indicators stand in neutral territory, maintaining a mostly neutral stance. The upside however, remains favored with a break below 1.380 required to confirm more slides.

Support levels: 1.0420 1.0380 1.0330

Resistance levels: 1.0470 1.0500 1.0540

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