EUR/USD Current price: 1.3397
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Dollar turned strongly south against most rivals after the release of US Retail Sales, resulting flat for the month of July against an expected rise of 0.2%. Core reading also came below expectations, triggering EUR/USD demand with the pair advancing above 1.3400 early US session. The hourly chart shows retracing some from daily high posted at 1.3414 with a strong upward momentum coming from technical readings, and price above moving averages. In the 4 hours chart price stalled at a bearish 100 SMA, with indicators also aiming higher above their midlines: immediate support stands at 1.3370, and as long as above it, the pair has scope to extend its rally up to 1.3430/40 area, level that capped the upside for the last 3 weeks.
Support levels: 1.3370 1.3330 1.3295
Resistance levels: 1.3440 1.3485 1.3520
GBP/USD Current price: 1.6718
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The GBP/USD sunk to a 2 month low of 1.6699 after Mark Carney changed course with a dovish stance regarding rates on the quarterly inflation report. Despite latest intraday dollar weakness, the bounce in the pair has been pretty shallow so far, keeping the pressure to the downside. The hourly chart shows indicators still in extreme oversold levels with no aims of turning north, while 20 SMA gains bearish slope far away above current price. In the 4 hours chart technical readings present a strong bearish momentum, with renewed selling interest below 1.6695 probably fueling the slide towards 1.6650 price zone.
Support levels: 1.6695 1.6650 1.6620
Resistance levels: 1.6730 1.6770 1.6840
USD/JPY Current price: 102.33
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The USD/JPY trades at the top of its recent range, having extended a few pips higher, up to 102.51 before easing. The hourly chart shows however indicators turning lower near their midlines, and price stuck around its 200 SMA. In the 4 hours chart price stands above moving averages, albeit indicators also head lower above their midlines.
Support levels: 101.95 101.60 101.20
Resistance levels: 102.35 102.80 103.10
AUD/USD Current price: 0.9313
View Live Chart for the AUD/USD
The AUD/USD regained the 0.9300 level consolidating now its latest intraday gains. Technically, the short term picture has turned bullish, with indicators heading north in positive territory and 20 SMA gaining bearish slope well below current price. In the 4 hours chart indicators also head higher above their midlines, with immediate resistance now at critical 0.9330 static level.
Support levels: 0.9290 0.9260 0.9220
Resistance levels: 0.9330 0.9370 0.9410
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