EUR/USD: pressuring 1.3400 area

EUR/USD Current price: 1.3394

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Little happened early Europe with markets closed on holidays, with the EUR/USD trading within familiar levels. With US first batch of data out, the results are a mild negative dollar across the board, as  PPI rose 1.7% in July yearly basis, missing expectations, while NY Manufacturing index went down to 14.6. The EUR/USD approaches the 1.3400 level again, with the hourly chart showing price inside a symmetrical triangle with the roof around 1.3402 offering immediate short term resistance. Indicators in the same time frame aim higher above their midlines, while price stands above moving averages, all converging in the 1.3360/70 area, reflecting the lack of clear directional strength. In the 4 hours chart the pair also presents a mild positive tone, yet unless a clear advance beyond 1.3440 buying at current levels remains risky.

Support levels: 1.3370 1.3330 1.3295 

Resistance levels: 1.3405 1.3440 1.3485 

GBP/USD Current price: 1.6692

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The GBP/USD took the day off, as the pair seems unable to react to news from any of both economies. Earlier on the day, UK quarterly GDP printed 0.8% strongest in nearly 5 years. Nevertheless, the pair maintains a strong neutral technical outlook according to the hourly chart, with price hovering around a flat 20 SMA and indicators laying horizontal around their midlines. In the 4 hours chart the bearish tone prevails, with 20 SMA offering dynamic resistance now around 1.6730 in case the pair finally wakes up.

Support levels: 1.6650 1.6620 1.6580

Resistance levels: 1.6700 1.6730 1.6760

USD/JPY Current price: 102.66

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The USD/JPY extends its advance, approaching 102.80 static resistance area albeit still quite limited, considering the weekly range has barely reached 60 pips. Technically, the hourly chart shows price above moving averages, with 100 one above the 200, and indicators holding in positive territory. In the 4 hours chart the technical picture is also bullish, yet unless a clear acceleration above mentioned 102.80 the upside will remain limited.

Support levels:  102.30 101.95 101.60 

Resistance levels: 102.80 103.10 103.45

AUD/USD Current price: 0.9312

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The AUD/USD retraced from a daily high of 0.9333 weighted by a sudden slide in gold, down 15 bucks in an hour. Technically, the hourly chart shows price broke below its 20 SMA as indicators turned lower around their midlines, ready to trigger some bearish signals. In the 4 hours chart technical readings indicators turned lower in positive territory, while 20 SMA maintains a strong bullish slope below current price, currently in the 0.9300 price zone: a break below it should lead to further slides, eyeing then 0.9260 price zone. 

Support levels: 0.9300 0.9260 0.9220 

Resistance levels: 0.9330 0.9370 0.9410