EUR/USD Current price: 1.3592
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An ultra thin summer Monday sees EUR/USD confined to a 30 pips range, in between 1.3570 support area and the 1.3600 figure. With no data in Europe or the US to guide price action, traders keep an eye on stocks, down across the world with DAX erasing almost all of Thursday gains, and US indexes trading in red early US session. As for the EUR/USD hourly chart, technical readings maintain a quite neutral stance, giving no clues on upcoming direction. In the 4 hours chart a mild bearish tone prevails with indicators turning now south after correcting oversold readings and price developing below its 20 SMA.
Support levels: 1.3575 1.3530 1.3500
Resistance levels: 1.3645 1.3675 1.3700
GBP/USD Current price: 1.7118
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The GBP/USD eased down to 1.7109 and maintains an intraday bearish tone this Monday, with the hourly chart showing indicators extending their decline into negative territory and 20 SMA turning lower above current price. In the 4 hours chart technical readings also present a bearish tone, favoring a test of 1.7095, post US NFP low, while a break below exposes 1.7060 23.6% retracement of the latest bullish run.
Support levels: 1.7095 1.7060 1.7020
Resistance levels: 1.7130 1.7180 1.7220
USD/JPY Current price: 101.85
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Yen recovers the upside against its rivals, with the USD/JPY down to fresh lows below the 102.00 mark. The hourly chart shows a strong bearish momentum, with price accelerating below its 100 SMA, which favors some downward extension. In the 4 hours chart the technical picture is also bearish, with indicators quickly approaching their midlines: a break below 101.60 exposes the lows around 101.20 in the short term, with risk of a test of the year low in the 100.70 price zone.
Support levels: 101.90 101.60 101.20
Resistance levels: 102.35 102.80 103.10
AUD/USD Current price: 0.9370
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Australian dollar tests the top of its range against the greenback, but shows little directional strength in the hourly chart, as price extends some above a flat 20 SMA while indicators hovers around their midlines. In the 4 hours chart indicators advance still in negative territory, while 20 SMA maintains a strong bearish slope above current price, offering dynamic resistance around 0.9380.
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9380 0.9420 0.9460
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