EUR/USD takes a breathe as dollar eases along with stocks

EUR/USD Current price: 1.3742

View Live Chart for the EUR/USD

Slowly but steadily the EUR/USD managed to recover ground this Monday as stocks sunk in the US: indexes trade in deep red for second day in a row after touching all time highs on Friday morning. With no major data affecting currencies, majors traded mostly even against the greenback, with buyers a bit more relaxed as critical level are now a bit further away: the EUR/USD extended its advance up to 1.3750 standing a few pips below ahead of Asian opening, and maintaining a short term positive tone according to the hourly chart that shows momentum still aiming higher and 20 SMA gaining bullish slope, heading north below current price and offering dynamic resistance around 1.3720. In the 4 hours chart price stands above a still bearish 20 SMA, while indicators head higher and approach their midlines, suggesting more advances as long as buyers now defend the 1.3720 price zone.

Support levels: 1.3720 1.3680 1.3650 

Resistance levels: 1.3750 1.3780 1.3820

EUR/JPY Current price: 141.67

View Live Chart for the EUR/JPY

The EUR/JPY gained some ground after posting a lower low daily basis at 141.11. The hourly chart shows momentum above its 100 line albeit flat, while early attempt of advancing was capped by a flat 200 SMA now around 141.90. In the 4 hours chart technical readings corrected oversold readings and remain in negative territory, while price hovers around the 50% retracement of the latest bullish run, making dojis which reflects the lack of a clear intraday direction. 

Support levels: 141.30 140.80 140.40

Resistance levels: 141.90 142.60 143.10  

GBP/USD Current price: 1.6609

View Live Chart for the GBP/USD

The GBP/USD established back above the 1.6600 mark, extending up to 1.6623 and maintaining a pretty bullish tone according to the hourly chart as indicators head higher in positive territory and 20 SMA heads north below current price. In the 4 hours chart a slightly positive tone is also present, with price above 200 EMA and 20 SMA, both acting now as intraday support around 1.6590, while indicators head higher around their midlines close to give buying signals: a price acceleration above 1.6630 area should see further advances, eyeing again the 1.6700 figure.

Support levels: 1.6590 1.6550 1.6510 

Resistance levels: 1.6630 1.6665 1.6700

USD/JPY Current price: 103.10

View Live Chart for the USD/JPY

Little changed from previous update, the USD/JPY trades near the 103.00 figure, having been unable to recover much ground today. The hourly chart shows price remains capped below its 200 SMA, moving back and forth around it, while indicators approached their midlines, but so far there are no clear signs the pair can resume the upside. In the 4 hours chart momentum maintains the negative bias, with recoveries probably finding sellers now around 103.60 Fibonacci resistance area.

Support levels: 103.00 102.60 102.20

Resistance levels: 103.30 103.60 104.10 

AUD/USD Current price: 0.9270

View Live Chart for the AUD/USD

Aussie maintains the range against the greenback, trading in the middle of the 0.9215/0.9310 limits. The hourly chart shows price approaching a bearish 20 SMA a few pips above current price and immediate resistance, while indicators aim higher still in negative territory. In the 4 hours chart price bounced from its 20 SMA while indicators stand directionless in positive territory, giving little clues of upcoming direction. A break of the mentioned extremes is required to confirm some directional move in the pair, with the upside still favored in the longer view. 

Support levels: 0.9250 0.9215 0.9170 

Resistance levels: 0.9300 0.9345 0.9390