Pound refuses to give up, Yen and Aussie fight

GBP/USD Current price: 1.6109

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After surging to a daily high of 1.6147, the GBP/USD broke below a short term ascendant trend line, but held above 1.6080 and quickly recovered the 1.6100 mark. A more hawkish than usual FED’s Dudley triggered a kneejerk down to 1.6080, albeit very short lived. Ahead of Asian opening, the pair presents a very shy bearish tone in the hourly chart, as per price capped below 20 SMA and indicators heading lower below their midlines. In the 4 hours chart price bounced pretty nice from a still bullish 20 SMA, while indicators lost the bearish slope and turned flat in positive territory, denying for now, chances of a stronger slide. The upside however is still limited, as price needs to accelerate and stabilize above 1.6120 to show a bit more of an upward tone, while a break below mentioned support should expose the pair to a test of 1.6000/20 price zone.

Support levels: 1.6080 1.6050 1.6020 

Resistance levels: 1.6120 1.6150 1.6190

USD/JPY Current price: 100.11

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Not a good day for USD/JPY that barely managed to hold the 100.00 area. The pair has been mostly under pressure, although the hourly chart shows price found support in its 100 SMA currently around 99.80. In the mentioned time frame, indicators head higher approaching their midlines still in negative territory, while the 4 hours chart present a slightly negative tone. Taking a look at the daily chart and considering the past 5 months, gains above 100.00 had produced lower highs and remained short lived, and this time seems not much different: price needs to take 100.70 area, September highs, to actually confirm a bullish continuation while losses below 99.70 may see a slide down to 99.20 price zone.

Support levels: 99.70 99.40 99.10

Resistance levels: 100.35 100.70 101.10

AUD/USD Current price: 0.9388

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The AUD/USD reached 0.9420 before easing some also presenting a quite disappointing behavior compared to other currency pairs. Gold may have weighted also in the pair, as metals had remained under strong selling pressure since ever the week started. As for technical readings, the hourly chart shows price right below its 20 SMA as indicators enter negative territory, while the 4 hours chart shows price faltered a few pips below 200 EMA as momentum continues to head north above its midline. Support around 0.9340/50 will now be key as if buyers surge on approaches to it, will likely keep the upward momentum alive. A break below it however, may see the pair retesting the 0.9260 lows in the upcoming sessions.

Support levels: 0.9385 0.9340 0.9300 

Resistance levels: 0.9420 0.9470 0.9510