EUR/USD Current price: 1.2737
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The EUR/USD stands sidelined ever since Tuesday’s American session with traders holding their breath ahead of the FED. Having regained the 1.2700 figure after the worse than expected US Durable Goods Orders yesterday, the short term picture presents a mild positive tone, with price above 100 and 200 SMAs, and hovering around 20 one, albeit indicators are again flat in neutral territory. In the 4 hours chart price develops above a bullish 20 SMA, while indicators turn lower but hold above their midlines. Things today will be purely data dependant, with a disappointing decision for the FED probably sending the pair up to 1.2790 and above, and a hawkish Central Bank favoring dollar gains towards 1.2660 price zone.
Support levels: 1.2710 1.2660 1.2620
Resistance levels: 1.2790 1.2840 1.2885
GBP/USD Current price: 1.6118
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The GBP/USD trades near its daily low of 1.6110, also flat and sidelined ahead of the news, with the short term picture turning slightly bearish, as the 1 hour chart shows 20 SMA gaining bearish slope above current price, and indicators turning lower into negative territory, albeit lacking strength at the time being. In the 4 hours chart price tested its 20 SMA at 1.6110 while indicators gain bearish slope an approach their midlines from the upside. Yesterday’s high converges with 200 EMA in this last time frame, usually a strong midterm resistance/support, which suggest further declines post FED should signal a bearish continuation from the technical point of view. Renewed buying interest above 1.6145 on the other hand, should see the pair retesting such highs, and even extending higher up to 1.6220 price zone.
Support levels: 1.6090 1.6050 1.6010
Resistance levels: 1.6145 1.6185 1.6220
USD/JPY Current price: 108.12
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The USD/JPY trades near the top of its latest range, pressuring the 108.20 price zone, 61.8% retracement of the latest bearish run. The 1 hour chart shows price found intraday support in a still bullish 100 SMA currently around 108.00; RSI in the mentioned time frame aims higher above 50, yet momentum stands flat at 100. In the 4 hours chart technical readings present a mild positive tone, yet a strong upward acceleration above mentioned Fibonacci resistance is required to confirm further gains, while the key support for today stands at 107.50/60, 50% retracement of the same rally and the base of the latest range.
Support levels: 108.00 107.55 107.10
Resistance levels: 108.20 108.50 108.90
AUD/USD Current price: 0.8886
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The AUD/USD continues outperforming, approaching 0.8900 figure and with the 1 hour chart showing a clear positive tone coming from technical readings, with RSI entering overbought territory, but momentum signaling further advances and far from reaching the extremes. In the 4 hours chart technical readings also favor the upside despite showing little strength at the time being, eyeing a test of 0.8930 in the short term, 38.2% retracement of the latest daily bearish run.
Support levels: 0.8820 0.8770 0.8730
Resistance levels: 0.8890 0.8930 0.8970
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