EUR/USD: dollar lead in thin trade

EUR/USD Current price: 1.3382

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Monday left leaving as usual a bitter taste on the mouth of forex trading, with majors practically unchanged: most traded in ranges no wider than 30 pips over this 24 hours. Nevertheless, the dollar continues to stand victorious, at least in the short term, having recovered ground against most of its rivals. Stocks edged slightly higher, both in Europe and the US, as no news from the Mid East hit the wires. As for the EUR/USD, the par lost the 1.3400 level, but held above 1.3370 immediate support, entering Asian session with the hourly chart showing price below 20 SMA and indicators below their midlines, for the most flat. In the 4 hours chart however, price is finding intraday support at its 20 SMA currently around 1.3375, while indicators aim slightly higher above their midlines: a clear acceleration below 1.3370 is required to confirm some downward momentum, whilst the upside remains capped by 1.3430/40 price zone.

Support levels: 1.3370 1.3330 1.3295 

Resistance levels: 1.3450 1.3475 1.3500

EUR/JPY Current price: 136.73

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Pressured by EUR weakness, the EUR/JPY trades within range, holding so far above 136.60 immediate support, with a mild bearish tone according to the hourly chart as price hovers around a bearish 100 SMA while indicators aim lower right below their midlines, lacking strength at the time being. In the 4 hours chart, indicators lost the upward potential and turned also south, currently resting around their midlines and giving no clear indications on upcoming moves. Below 136.60 risk to the downside increases towards 136.20, while some upward strength can be seen only with steady gains above 137.10. 

Support levels: 136.60 136.20 135.80

Resistance levels: 137.10 137.50 137.90

GBP/USD Current price: 1.6785

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Pound waits for Wednesday, when UK employment figures and inflation report along with Mark Carney will hit the wires. In the meantime, the GBP/USD trades uneventfully around its 2 month low of 1.6766 posted last Friday, presenting a short term neutral stance according to the 1 hour chart. In the 4 hours one however, the technical picture is bearish with price below its 20 SA and indicators in negative territory, albeit showing no strength at the time being. A daily descendant trend line coming from this year high stands today around 1.6840, and as long as below, bears will remain in control. 

Support levels: 1.6770 1.6730 1.6695

Resistance levels: 1.6800 1.6840 1.6885 

USD/JPY Current price: 102.17

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The USD/JPY stands right where it started the week, having held above the 102.00 level but unable to move beyond 102.20. As a new day starts, the hourly chart shows price struggling around a bearish 100 SMA while indicators stand flat in neutral territory. In the 4 hours chart price has managed to hold above its moving averages, but indicators maintain also a neutral stance. Sellers stand in the 102.30/40 area, and unless a clear break above it, the upside will remain limited. 

Support levels: 101.95 101.60 101.20 

Resistance levels: 102.35 102.80 103.10

AUD/USD Current price: 0.9262

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The AUD/USD holds around 0.9260 strong static support level, having been also confined to a tight range during the first day of the week. The pair may see some action over Asian hours, with some Australian and Chinese data schedule, and if numbers disappoint, a break lower seems possible. Technically, the hourly chart shows price below its 20 SMA and indicators in negative territory, while the 4 hours chart shows a quite similar picture, all of which supports a bearish run.  The immediate resistance stands at the 0.9300 figure, and if somehow price manages to recover above it, the movement can quickly extend up to 0.9330 price zone.

Support levels: 0.9260 0.9220 0.9180

Resistance levels: 0.9290 0.9330 0.9370