EUR/USD Current price: 1.2958
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Wednesday saw market players buying dollar on self strength again, particularly against European currencies. The EUR/USD broke below the 1.3000 level before US Retail sales upbeat expectations, while the positive number fueled dollar demand: the pair fell as low as 1.2922 before bouncing to consolidate at current levels. The EUR/USD hourly chart shows 20 SMA heading south above current price while indicators stand in negative territory, which supports a bearish continuation. Latest upward corrective movement stalled at 1.2970, former support area adding to the negative bias. In the 4 hours chart, indicators stand in negative territory, although losing early strength and turning neutral. Key support stands around 1.2880 area, with stops probably below.
Support levels: 1.2920 1.2880 1.2840
Resistance levels: 1.2970 1.3010 1.3050
EUR/JPY Current price: 124.53
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Lower in range, EUR is proving weaker than JPY lately, and the risk to the downside increases for EYR/JPY. The hourly chart shows price below 100 SMA currently around 125.00 acting as short term resistance, while indicators hold in negative territory. In the 4 hours chart technical readings broke below their midlines although lacking momentum at the time being. Immediate support comes around 124.10 intraday low, followed by 123.70 recent lows. Once below this last, the bearish momentum will likely accelerate.
Support levels: 124.10 123.70 123.20
Resistance levels: 124.80 125.20 125.60
GBP/USD Current price: 1.4922
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The GBP/USD managed to close the day positively, although failed to clearly break above the daily descendant trend line, despite several attempts over the European session. The hourly chart shows technical readings gaining some bearish tone, although buying interest aligned in the 1.4900 area protects the downside so far. 4 hours chart maintains a slightly bullish tone, yet only with steady gains above 1.4990 will signal further advances in Pound today.
Support levels: 1.4900 1.4870 1.4830
Resistance levels: 1.4960 1.4990 1.5120
AUD/USD: Current price: 1.0293
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The AUD/USD finally felt the heat, and eased back below the 1.0300, with the hourly chart showing an increasing bearish momentum as indicators head south below their midlines and 20 SMA gains bearish slope above current price. However, price holds above the 1.0270/80 former strong resistance area, showing shy bearish interest. In the 4 hours chart indicators turn lower in positive territory, while 20 SMA offers dynamic support around mentioned area: price needs to break below 1.0270 to be able to resume the downside towards 1.0220 price zone.
Support levels: 1.0280 1.0250 1.0220
Resistance levels: 1.0335 1.0370 1.0400
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