EUR/USD: pressuring the 1.3800 level

EUR/USD Current price: 1.3779

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The EUR/USD continued pressuring the 1.3800 figure during most of this Wednesday, with dollar temporal gains on risk sentiment attracting buyers on the pair around 1.3740. The hourly chart shows momentum around 100 and price above a flat 20 SMA, with all of the overbought readings already gone. In the 4 hours chart indicators also corrected some, while price held near the fresh yearly highs, which reflects the strength of the buyers. Further gains in the short term however, are subjected to local share markets behavior, as another round of selling in stocks may limited the ability of the pair to break beyond 1.3790 highs.

Support levels: 1.3740 1.3710 1.3680 

Resistance levels: 1.3790 1.3835 1.3860

EUR/JPY Current price: 134.18

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Yen strength extended towards the European session, although the currency crosses saw some recovery during US trading hours. Nevertheless the EUR/JPY lost over 100 pips, and the hourly chart shows indicators aiming higher, but still in negative territory as 100 SMA caps the upside around 134.30. The 4 hours chart shows indicators flat in neutral territory, suggesting the pair may have bottomed in the short term. However, steady gains above 134.40 are required to confirm an upward continuation for today.

Support levels: 133.90 133.55 133.10

Resistance levels: 134.40 134.90 135.60 

GBP/USD Current price: 1.6169

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The GBP/USD managed to recover some ground after dollar advance past Asian session, although maintaining a weaker stance at least from a technical point of view: the hourly chart shows price retracing some from a bearish 20 SMA while indicators stand flat in negative territory. In the 4 hours chart price struggles around a flat 20 SMA unable to firm up above it, while indicators stand flat around their midlines. The daily low of 1.6118 converges with the 38.2% retracement of the latest daily run from 1.5892 to 1.6255, so only a clear break below it should lead to a deeper slide while steady gains above 1.6225 are required to confirm a new leg up.

Support levels: 1.6120 1.6090 1.6050

Resistance levels:  1.6170 1.6225 1.6260 

USD/JPY Current price: 97.30

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The USD/JPY shown little progress since latest update, trading in a tight 30 pips range for most of the US session. The hourly chart leaves little room for recoveries with 100 and 200 SMAs heading lower well above current price and indicators still in negative territory. In the 4 hours chart, technical readings maintain a strong bearish tone, helping keep the upside limited.

Support levels:  97.20 96.80 96.50 

Resistance levels: 97.50 97.90 98.40

AUD/USD Current price: 0.9622

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The AUD/USD trades near its daily low of 0.9606 having been unable to recover ground all through the day. The hourly chart shows a strongly bearish 20 SMA above current price keeping the pressure to the downside. In the 4 hours chart technical readings maintain a bearish tone pointing for a test of 0.9520/40 area on a break below mentioned low.

Support levels: 0.9600 0.9570 0.9520

Resistance levels:  0.9680 0.9720 0.9755

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