EUR/USD Current price: 1.3171
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With no news but oil stocks scheduled for the American session, the dollar trades lower across the board, albeit when it comes to EUR, gains are quite limited: the EUR/USD recovered from a low of 1.3152 up to 1.3188 so far today, easing now back towards its slows.. The EUR/USD hourly chart shows price right above a flat 20 SMA with indicators flat in positive territory. In the 4 hours chart indicators corrected oversold readings but turned flat below their midlines, giving little support to a continued advance, while 20 SMA heads lower now offering resistance in the 1.3200 area: as long as below this last, the pair will remain biased lower, with a break below 1.3150 exposing the 1.3100 price zone.
Support levels: 1.3150 1.3120 1.3090
Resistance levels: 1.3200 1.3240 1.3280
GBP/USD Current price: 1.6599
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GBP/USD flirts with the 1.6600 level, trading around it but so far incapable to establish above it, with the hourly chart showing indicators getting exhausted to the upside near overbought levels, but not yet suggesting a reversal. In the 4 hours chart, the pair presents a mild positive tone, as per price above its 20 SMA and momentum heading higher above its midline, yet further gains are required to confirm a new leg up towards 1.6660 price zone, a daily descendant trend line coming from this year high.
Support levels: 1.6540 1.6490 1.6465
Resistance levels: 1.6600 1.6630 1.6660
USD/JPY Current price: 103.88
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The USD/JPY trades again near the base of its range, having so far posted a low of 103.77. The hourly chart shows price standing below its 100 SMA, now acting as dynamic resistance at 103.95, while indicators aim higher but hold below their midlines. In the 4 hours chart indicators also turned higher below their midlines, showing no actual strength at the time being. Either a break below 103.70 or above 104.20 is required to confirm some directional move in the pair, at least in the short term.
Support levels: 103.70 103.20 102.85
Resistance levels: 104.20 104.50 104.80
AUD/USD Current price: 0.9338
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Aussie surged to a 3 week high against the greenback of 0.9351 easing now but holding above 0.9330. The hourly chart shows indicators turning lower from overbought readings, but 20 SMA maintains a strong upward slope below current price, limiting the downside a few pips below the critical support. In the 4 hours chart indicators have lost their upward strength turning flat in positive territory, yet if buyers surge in between 0.9320/30 the downside will remain limited.
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9450
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