EUR/USD Current price: 1.3798
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The EUR/USD edged lower in the US session, falling down to 1.3788 and holding steady a few pips above as thin trade extended all over Monday. Ahead of Asian opening, the EUR/USD hourly chart shows a mild bearish tone, with price below its moving averages and indicators heading lower in negative territory, albeit holding above key 1.3780 support, showing little aims to extend its slide. In the 4 hours chart technical readings also present a mild bearish tone, with price hovering around its 200 EMA that offers dynamic support now at current levels.
With a light calendar for upcoming session, market attention will likely focus on corporate earnings reports later this week. In the meantime, stocks are slightly up, with escalating tensions around Russia and Ukraine still being ignored by market players. For the EUR/USD, a break below mentioned 1.3780 support area should see some stops getting triggered, and therefore a downward extension down to 1.3730 price zone. Steady gains above 1.3825 on the other hand, should see the pair accelerating higher towards 1.3860 in the short term.
Support levels: 1.3780 1.3750 1.3720
Resistance levels: 1.3825 1.3860 1.3890
EUR/JPY Current price: 141.54
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The EUR/JPY lost some ground amid EUR weakness, maintaining nevertheless the range: the hourly chart shows recovering after approaching 141.35, where the 38.2% retracement of the latest bearish run converges with 100 SMA. To the upside the pair is capped by the 50% retracement of the same rally around 141.80, while the 4 hours chart presents a neutral stance with no clear direction coming out.
Support levels: 141.35 140.90 140.40
Resistance levels: 141.80 142.20 142.60
GBP/USD Current price: 1.6798
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The GBP/USD trades mostly unchanged having however posted a high of 1.6818 early Europe. The hourly chart shows indicators flat around their midlines, while price hovers around an also flat 20 SMA, maintaining a strong neutral stance. In the 4 hours chart indicators present a mild bearish tone as per heading lower in negative territory, and current candle developing below its 20 SMA. However, further technical confirmation is required to call for an intraday bearish run, with a break below 1.6770 favoring a deeper correction down to 1.6745.
Support levels: 1.6770 1.6745 1.6710
Resistance levels: 1.6820 1.6870 1.6915
USD/JPY Current price: 102.61
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The USD/JPY continues to consolidate around the 102.60 level, also lacking direction in the short term amid low volumes. The pair however, may extend its gains over upcoming hours looking for a possible test of the 102.90/103.00 area.
Support levels: 102.35 102.00 101.55
Resistance levels: 102.95 103.20 103.70
AUD/USD Current price: 0.9329
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Australian dollar saw a spark of demand early US opening, advancing 20 pips altogether against the greenback. But hopes for some action were quickly diluted as the pair slowly retraced back towards daily opening levels, still looking pretty neutral in the short term, with an increasing bearish potential in bigger time frames.
Support levels: 0.9320 0.9290 0.9260
Resistance levels: 0.9355 0.9390 0.9445
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