EUR/USD Current price: 1.3813
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With Australia and New Zealand closed for Easter Monday, market will actually kick start later today, with Japan; European stocks will also be off with the US finally opening. Overall, there had not been much forex related news over the weekend besides continued tension in the Ukraine/Russia conflict. So far, the situation has not been enough to trigger a run to safety albeit the risk of such is pretty high, and should not be disregarded.
As for the EUR/USD the pair closed Friday right above the 1.3800 level, gapping slightly higher with this new weekly opening. The technical short term picture is quite neutral after the holidays, and will likely remain so over the upcoming hours; immediate support comes at 1.3780 strong Fibonacci level, while 1.3825 caps the upside in the short term. A break of either extreme will probably favor some short term continuation in the set direction, although thin Monday should not see any critical breakout across the board.
Support levels: 1.3780 1.3750 1.3720
Resistance levels: 1.3825 1.3860 1.3890
EUR/JPY Current price: 141.49
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Yen weakness from early past week left the EUR/JPY consolidating above the 141.00 figure, having found sellers around the 50% retracement of its latest bearish run at 141.75, and buyers around the 38.2% of the same rally at 141.36 immediate short term support. The hourly chart shows price above 100 and 200 SMAs and indicators flat around their midlines, reflecting recent consolidative stage. In the 4 hours chart indicators lost the upward potential and stand near their midlines, still far from suggesting a bearish run. Japanese Trade Balance to be released today may bring some action to yen crosses, with the pair probably following Nikkei over current session.
Support levels: 141.35 140.90 140.40
Resistance levels: 141.70 142.20 142.60
GBP/USD Current price: 1.6790
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The GBP/USD downward corrective movement after posting a fresh year high of 1.6841, held so far above the 1.6770 level, immediate short term support. As a new day starts, extremely modest by the way, the pair advances some approaching the 1.6800 figure and with a slightly bullish short term tone comes from the hourly chart, as price stands above its 20 SMA and momentum aims higher in neutral territory. In the 4 hour chart price stands also above a strongly bullish 20 SMA, while indicators are flat around their midlines. Despite the lack of action, the bullish trend remains well in place with buyers probably defending 1.6745 price zone, in case of short term slides.
Support levels: 1.6770 1.6745 1.6710
Resistance levels: 1.6820 1.6870 1.6915
USD/JPY Current price: 102.42
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The USD/JPY continues to trade below the 102.60 static resistance area, with a mild positive tone according to the hourly chart that shows price above its moving averages and CCI heading north in positive territory. The latest recovery of the pair has been pretty much contained, with not much buyers around despite stocks strong recovery over the last few days. Above mentioned resistance the pair may extend towards 103.00 area yet further gains seem limited for now.
Support levels: 102.35 102.00 101.55
Resistance levels: 102.60 102.95 103.20
AUD/USD Current price: 0.9331
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Consolidating near its recent lows, AUD/USD has found it hard to maintain the bullish tone after flirting with 0.9460 earlier this month, short term neutral but still mild bearish in term. A break below 0.9320 should lead to a downward extension towards key .09260 strong midterm support. So far, stocks upward momentum has prevented the pair from falling big, but has not been enough to favor a recovery. If stocks turn red over the upcoming days, the pair can become more clearly bearish with a break below mentioned 0.9260 favoring a test of the 0.9000 figure.
Support levels: 0.9320 0.9290 0.9260
Resistance levels: 0.9355 0.9390 0.9445
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