EUR/USD: quiet day in a busy week

EUR/USD Current price: 1.3430

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The EUR/USD stands steady around the year low of 1.3320 reached last Friday, with a quiet calendar for the Asian session pointing for another dull Monday. The week however, will be fulfilled with US data, starting with GDP and FOMC meeting on Wednesday, and NFP figures on Friday, which may turn market even thinner ahead of the events.

Technically, the hourly chart maintains a clear bearish tone, with price developing below its moving averages, all heading lower, and momentum still heading south despite near oversold levels. In the 4 hours chart indicators seem slightly exhausted to the downside, suggesting a probable upward correction: above 1.3440, the pair mat extend up to 1.3475, yet gains beyond this last are not likely. A break below 1.3410 on the other hand, should only accelerate the slide.

Support levels: 1.3410 1.3380 1.3335

Resistance levels: 1.3440 1.3475 1.3500 

EUR/JPY Current price: 136.72

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The EUR/JPY maintains a weak stance, according to the hourly chart that shows price was unable to advance beyond its 200 SMA and slipped below 100 one, as momentum continues heading south in negative territory. In the 4 hours chart technical readings are also bearish supportive, as per price well below its moving averages and indicators losing upward potential and turning flat in neutral territory. Renewed selling pressure below 136.60 should keep the risk to the downside, while only above 137.90 an interim bottom may be underway. 

Support levels: 136.90 136.60 136.20 

Resistance levels: 137.50 137.90 138.40

GBP/USD Current price: 1.6976

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Pound stands below the 1.7000 figure against the greenback, presenting a mild bearish tone in the short term, as the hourly chart shows price contained below a flat 20 SMA and indicators also directionless although in negative territory. In the 4 hours chart indicators aim higher from oversold levels, while 20 SMA maintains a strong bearish slope, currently around 1.7010 acting as dynamic resistance for the day: a recovery above the level should see GBP/USD extending its recovery up to 1.7050/60 price zone, while stops stand below 1.6950 and if triggered, may push the pair down to 1.6910/20 price zone.

Support levels: 1.6950 1.6920 1.6870

Resistance levels: 1.7010 1.7055 1.7095 

USD/JPY Current price: 101.79

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The USD/JPY saw some strength late last week, advancing up to 101.92 where 200 DMA halted the run. Nevertheless, the pair regained a mild positive tone firm above 101.60 and with the hourly chart showing 100 SMA crossing above 200 one both below current price and indicators mostly neutral right above their midlines. In the 4 hours chart however, the upward potential eases, with indicators turning lower from overbought levels, still well above their midlines.

Support levels: 101.60 101.20 101.05 

Resistance levels: 101.95 102.35 102.80

AUD/USD Current price: 0.9395

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Australian dollar finally gave up all of it latest gains against the greenback, consolidating now  around the 0.9400 figure and looking short term bearish, with price below its 20 SMA in the hourly chart, and indicators below their midlines, albeit showing no actual strength at the time being. In the 4 hours chart the bearish tone coming from technical readings is stronger, eyeing now 0.9370 immediate support as a break below it exposes the pair to a test of critical 0.9330 price zone.

Support levels: 0.9370 0.9330 0.9300

Resistance levels: 0.9420 0.9460 0.9500