EUR/USD Current price: 1.3726
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The EUR/USD extended up to 1.3737 in the European session, but again had trouble to extend its gains beyond current 1.3720/30 area. Ahead of US opening, the hourly chart shows a slightly bullish tone, with indicators heading higher above their midlines and price above its 20 SMA, albeit the market lacks momentum to push the pair higher. In the 4 hours chart indicators head higher from oversold readings yet still in negative territory, while 20 SMA caps the upside around mentioned daily high. Steady gains above the level may favor an upward continuation towards the 1.3750/80 area, although more gains are not yet seen.
Support levels: 1.3680 1.3650 1.3610
Resistance levels: 1.3750 1.3780 1.3820
GBP/USD Current price: 1.6591
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The GBP/USD grinds higher, approaching the 1.6600 figure ahead of US opening also presenting a slightly positive short term tone according to the hourly chart: indicators stand above their midlines and price moves away from its 20 SMA now offering support around 1.6575. In the 4 hours chart however, technical readings show the upside remains limited as per moving averages heading lower above current price and indicators holding in negative territory. Steady gains above 1.6610 may suggest further upward extensions, yet failure to regain mentioned 1.6600 level should bring the pressure back to the downside.
Support levels: 1.6550 1.6510 1.6470
Resistance levels: 1.6580 1.6610 1.6650
USD/JPY Current price: 103.13
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The USD/JPY turns negative dragged lower by falling stocks all over the world. The hourly chart shows price finding short term support at its 200 SMA around current level, which converges with the 50% retracement of the latest daily fall. Indicators in the mentioned time frame retrace from their midlines, while 100 SMA offers intraday resistance around 103.60 in case of recoveries. In bigger time frames momentum maintains a strong bearish tone, supporting rather a downward breakout than a recovery for today.
Support levels: 103.00 102.60 102.20
Resistance levels: 103.30 103.60 104.10
AUD/USD Current price: 0.9257
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The AUD/USD extends its decline after faltering again around the 0.9300 figure, trading with a strong bearish momentum according to the hourly chart, and pointing for a retest of the base of its latest range around 0.9215. In the 4 hours chart price stands right above its 20 SMA while indicators turn south still above their midlines, suggesting the movement may not have the strength enough to break lower. Overall the bullish trend prevails in the longer term, and seems attempting a buy on approaches to mentioned support may be the way to play the pair.
Support levels: 0.9215 0.9170 0.9130
Resistance levels: 0.9300 0.9345 0.9390
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