EUR/USD Current price: 1.3325
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The EUR/USD is down, having posted so far a fresh year low of 1.3313 after the release of US data: inflation rose 0.1% in July, up 2.0% on the year as expected, while housing data shown housing starts surged in July to the highest level in eight months, along with building permits. Numbers prove US growth remains steady widening the breach with European deflationary pressures. Technically, the downward potential gained shape, with the hourly chart showing 20 SMA containing advances earlier on the day, and price below previous low of 1.3332 now immediate resistance. Indicators in the same time frame present a strong bearish tone, while the 4 hours chart also shows indicators biased lower. Immediate target comes around 1.3300, with a break below exposing 1.3250 area for today.
Support levels: 1.3295 1.3250 1.3210
Resistance levels: 1.3332 1.3370 1.3405
GBP/USD Current price: 1.6631
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Pound selloff was triggered by poor UK data, with inflation down to 1.6% yearly basis, diminishing chances of a sooner rate hike. Dollar latest strength pushed GBP/USD down to 1.6615, with the pair presenting a strong bearish tone in the short term, as the hourly chart shows indicators heading south despite in oversold levels, while the 4 hours chart shows also a strong downward potential coming from technical readings, supporting a continued slide for the rest of the day.
Support levels: 1.6610 1.6580 1.6545
Resistance levels: 1.6650 1.6700 1.6740
USD/JPY Current price: 102.71
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The USD/JPY trades higher but limited, having surged up to 102.79 with early US news, but lacking upward potential according with short term technical readings: the 1 hour chart shows indicators flat in positive territory, albeit price stands above its moving averages. In the 4 hours chart a mild positive tone is also present, with critical resistance now around 102.85, a daily descendant trend line coming from this year high.
Support levels: 102.35 101.95 101.60
Resistance levels: 102.85 103.10 103.45
AUD/USD Current price: 0.9325
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The AUD/USD advanced up to 0.9346, supported over Asian hours by RBA Minutes, not as dovish as market expected. But the movement is being reverted early US hours, with the pair trying to break back below the 0.9330 static level. The hourly chart shows price advancing below its 20 SMA while indicators turned lower and approach their midlines. In the 4 hours chart price holds above a bullish 20 SMA while indicators also turned south still above their midlines. Downward risk will increase on a break below 0.9300, favoring then a run towards 0.9260 price zone.
Support levels: 0.9300 0.9260 0.9220
Resistance levels: 0.9330 0.9370 0.9410
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