EUR/USD Current price: 1.3804
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The EUR/USD advances strongly this Tuesday, having already erased ECB and Payrolls losses, flirting with the 1.3800 level again. The strong upward momentum was due to a general dollar weakness which follows stocks nose diving all over the world. The hourly chart shows indicators heading firmly up despite in overbought territory, while price overcame 1.3780 static Fibonacci level and immediate support. In the 4 hours chart the technical picture is also quite strong, supporting more advances for the upcoming hours: a daily descendant trend line coming from 1.3966 stands now around 1.3830 acting as probable target and strong resistance. Expect stops to be gathered above and therefore trigger an upward continuation if reached.
Support levels: 1.3780 1.3750 1.3720
Resistance levels: 1.3830 1.3865 1.3910
GBP/USD Current price: 1.6739
View Live Chart for the GBP/USD
Pound outperforms its rivals advancing nearly 150 pips against its American rival today. The pair has broke above the 1.6700 figure with better than expected manufacturing and industrial data from the UK, and never looked back: with US opening, the pair extends its rally above a daily descendant trend line now around 1.6720 and immediate short term support, with the hourly chart showing indicators heading strongly up despite in extreme overbought territory. In the 4 hours chart indicators head north almost vertical, albeit the pair may consolidate some now before extending is run due to the already large intraday advance.
Support levels: 1.6720 1.6660 1.6620
Resistance levels: 1.6775 1.6820 1.6860
USD/JPY Current price: 102.16
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The USD/JPY is in free fall along with Nikkei, following BOJ’s decision to maintain its economic policy unchanged. The pair has a clear bearish tone according to the hourly chart, with momentum heading south in negative territory, and price steady around the daily low. Bigger time frames present also a strong bearish tone that suggest a probable test of the 101.70/80 area for the upcoming hours. A daily close below this last should open doors for an approach to the key 100.00 level later on the week.
Support levels: 101.70 101.35 100.90
Resistance levels: 102.20 102.60 103.00
AUD/USD Current price: 0.9346
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The AUD/USD finally broke through 0.9300 extending its advance to levels not seen since November last year. The run has left hourly indicators in overbought territory, but the upside is still open for further advances, as the pair is finding buyers on retracements down to 0.9325 now immediate support area. In the 4 hours chart the technical picture is also bullish, with little in the way up to 0.9445 price zone.
Support levels: 0.9325 0.9370 0.9240
Resistance levels: 0.9390 0.9445 0.9485
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