EUR/USD Current price: 1.3471
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US inflation data came out showing both year and monthly readings in line with expectations, but core numbers increased less than expected in June, putting the dollar under pressure across the board. But not before the EUR/USD posted a fresh year low of 1.3458: the hourly chart shows indicators maintaining the bearish slope despite in oversold levels, with price hovering around 1.3475 and well below moving averages. In the 4 hours chart the bearish momentum is quite strong, all of which favors a downward continuation towards fresh year lows.
Support levels: 1.3475 1.3440 1.3410
Resistance levels: 1.3500 1.3535 1.3570
GBP/USD Current price: 1.7073
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The GBP/USD recovers some from a daily low of 1.7048 but maintains a weak tone amid limited well below 1.7100. The hourly chart shows price unable to overcome its 20 SMA as indicators hold around their midlines, keeping a quite neutral stance. In the 4 hours chart the technical outlook is mild bearish, with its 20 SMA also capping the upside and indicators turning south below their midlines. Critical support stands around 1.7030 past week low and 200 EMA in this last time frame. A break below it should fuel the bearish momentum eyeing then 1.6985 as next probable short term target.
Support levels: 1.7030 1.6985 1.6950
Resistance levels: 1.7095 1.7120 1.7150
USD/JPY Current price: 101.42
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The USD/JPY retraces from a daily high of 101.60, albeit the slide remains limited on strong stocks: US indexes opened higher on earning reports, with S&P looking ready for new record highs. As for the USD/JPY the hourly chart shows indicators down around their midlines and price struggling below 100 and 200 SMAs, both around current 101.40/50 price zone. In the 4 hours chart a slightly negative tone comes from technical readings, yet a break either above 101.60 or below 101.20 is required to set a clearer intraday picture.
Support levels: 101.20 101.05 100.70
Resistance levels: 101.55 101.95 102.35
AUD/USD Current price: 0.9410
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The AUD/USD extended its advance up to 0.9420 on the back of weak US inflation readings, retracing now some from the strong static resistance level. The hourly chart shows however a strong upward momentum, with indicators entering overbought territory and price well above its 20 SMA, suggesting further gains are possible if the resistance is broken. In the 4 hours chart the outlook is also bullish, with immediate support now at 0.9370.
Support levels: 0.9370 0.9330 0.9300
Resistance levels: 0.9420 0.9460 0.9500
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