EUR/USD Current price: 1.3467
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The EUR/USD has extended its intraday range by a few pips, posting a lower low for the year of 1.3437 before extending up to 1.3484 on the back of stronger than expected local PMI readings. Nevertheless, the pair was unable to sustain its shy gains and trades back in the 1.3460 price zone. The hourly chart shows price steady above its 20 SMA, and indicators mixed in positive territory, without showing a certain direction. In the 4 hours chart daily high converged, with a bearish 20 SMA that limited the upside, while indicators corrected oversold readings but hold in negative territory. As long as below the 1.3500 level, the pair remains exposed to the downside despite the tedious lack of strength.
Support levels: 1.3445 1.3410 1.3380
Resistance levels: 1.3500 1.3535 1.3570
GBP/USD Current price: 1.7000
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The GBP/USD aims to break below the 1.7000 mark after UK Retail Sales missed expectations, presenting a strong bearish tone in the short term, as the hourly chart shows price well below its 20 SMA and indicators heading lower below their midlines. In the 4 hours chart indicators also gained bearish momentum and extend below their midlines, supporting a continued slide towards 1.6950, June 26th daily low.
Support levels: 1.7020 1.6985 1.6950
Resistance levels: 1.7050 1.7095 1.7120
USD/JPY Current price: 101.70
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The USD/JPY finally advanced above 101.60, reaching so far 101.77 and maintaining a strong positive tone despite the shallow advance. The fact that stocks are strongly up, surely supports the rally, with the hourly chart showing a clear upward momentum in the hourly chart as price extends also above its moving averages. In the 4 hours chart indicators also head higher above their midlines, with critical resistance now at 101.95, 200 DMA. A break above this last should fuel the rally, eyeing then 102.35 price zone.
Support levels: 101.60 101.20 101.05
Resistance levels: 101.95 102.35 102.80
AUD/USD Current price: 0.9429
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The AUD/USD retreats from 0.9475 fresh 3-week high posted over Asian hours, quickly approaching 0.9420 support. The hourly chart shows price back below its 20 SMA, while indicators head slightly south below their midlines. In the 4 hours chart indicators eased from oversold levels but hold above their midlines while 20 SMA maintains a strong bullish slope a few pips below current price. A price acceleration below 0.9410 should support a continued slide towards 0.9370 price zone.
Support levels: 0.9420 0.9370 0.9330
Resistance levels: 0.9460 0.9500 0.9540
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