EUR/USD Current price: 1.3384
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The EUR/USD surged up to 1.3393 after worse than expected US Durable goods orders that fell strongly, indicating a slowdown in manufacturing and less chances of a September’s QE tapering. As for the hourly chart, technical readings stand in neutral territory, with price aiming to advance above a flat 20 SMA and indicators hovering around their midlines. In the 4 hours chart however, a slightly bullish tone persists, although steady gains above 1.3420 are required to confirm a new leg up.
Support levels: 1.3370 1.3330 1.3290
Resistance levels: 1.3420 1.3450 1.3485
GBP/USD Current price: 1.5595
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The GBP/USD surged to test the 1.5600 area on the back of US news, turning intraday bullish and with the hourly chart showing price advancing above a flat 20 SMA and indicators heading north in positive territory. Nevertheless, the pair is far from bullish, as the 4 hours chart shows price retracing from a bearish 20 SMA while indicators barely approach their midlines, still in negative territory. Steady gains above 1.5610 may see the pair advancing further if current levels hold, yet a break below 1.5550 should lead to a new bearish leg towards fresh monthly lows.
Support levels: 1.5550 1.5520 1.5480
Resistance levels: 1.5610 1.5640 1.5690
USD/JPY Current price: 98.35
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The USD/JPY resumed the downside after the news, continuing its retracement from the daily descendant trend line tested past week. The hourly chart shows indicators gaining a strong bearish momentum and 100 SMA offering dynamic support around 98.20: a break below this last should anticipate a continued slide over the upcoming sessions, eyeing 97.50 support.
Support levels: 98.20 97.80 97.50
Resistance levels: 98.80 99.20 99.60
AUD/USD Current price: 0.9057
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Australian dollar surged above 0.9050, entering US session with a positive tone according to the hourly chart, as indicators head strongly north above their midlines, while current candle opened above 20 SMA. In the 4 hours chart technical readings are also positive although showing not much strength at the time being. Another round of buying that pushes price above 0.9080 should lead to a continued advance over current session, although expected to remain short term.
Support levels: 0.8990 0.8955 0.8920
Resistance levels: 0.9050 0.9080 0.9120
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