EUR/USD Current price: 1.3371
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With the UK on holidays, the usual lack of volume of Mondays turned into a forgettable trading day, with majors little changed from their weekly opening. Having been slightly higher, the dollar suffered a kneejerk after worse than expected US Durable Goods Orders, although managed to recover the ground lost along the US session and closes the day with modest gains against most rivals. As for the EUR/USD, the pair found sellers a few pips below the 1.3400 level, and enters Asian session with a slightly bearish tone in the short term, as the hourly chart shows price developing below 20 SMA and indicators standing in negative territory. Far from offering a clear bias, the longer term outlook continues to favor the upside although a break above 1.3420 is now required to see some progress this Tuesday.
Support levels: 1.3370 1.3330 1.3290
Resistance levels: 1.3420 1.3450 1.3485
EUR/JPY Current price: 131.86
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The yen saw some demand after US lousy manufacturing readings, but finally eased back against most rivals, leaving EUR/JPY pretty much unchanged intraday. Further gains however seem unlikely, with the hourly chart showing indicators heading south after retracing from their midlines; 100 SMA in the same time frame, heads higher around 131.40, offering immediate short term support in case of more slides. A break below the level should signal further short term falls.
Support levels: 131.40 131.00 130.70
Resistance levels: 132.40 133.00 133.55
GBP/USD Current price: 1.5576
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The GBP/USD saw a strong bounce up to 1.5610, but quickly retraced its gains, maintaining a pretty neutral stance in the short term, with indicators stuck around their midlines and price moving back and forth around a flat 20 SMA in the hourly chart. In the 4 hours chart, the downside is still favored, as price was unable to recover above a bearish 20 SMA, while indicators head south in negative territory.
Support levels: 1.5550 1.5520 1.5480
Resistance levels: 1.5610 1.5640 1.5690
USD/JPY Current price: 98.63
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Little news in the USD/JPY front, with the pair closing for second day in a row with a doji that reflects the lack of definitions at the time being. The hourly chart shows price still holding above a bullish 100 SMA around 98.30 but indicators flat around their midlines. In bigger time frames, technical readings also stand in neutral territory with the downside favored on a break below mentioned dynamic support.
Support levels: 98.30 97.80 97.50
Resistance levels: 98.80 99.20 99.60
AUD/USD Current price: 0.9027
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The AUD/USD surged up to 0.9069 posting a 3-day high before shedding its gains. Despite the slow grind higher of these last days and the neutral stance of the hourly chart, the pair remains favored to the downside, as longer term perspective has not changed. A break below 0.8990 should favor a rested of the 0.8920 area in the short term, as long as sellers continue to surge on spikes higher.
Support levels: 0.8990 0.8955 0.8920
Resistance levels: 0.9050 0.9080 0.9120
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