EUR/USD: nearing the year low

EUR/USD Current price: 1.2275

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The EUR/USD pair remains subdued this Thursday, weighted by the surprise decision of the SNB to turn its Libor rate negative, down to -0.25% to defend EUR/CHF peg. Better than expected US weekly unemployment claims helped the pair extend its decline ahead of US opening below the 1.2270 level. The 1 hour chart presents a strong bearish tone, with price capped below a 20 SMA and indicators heading south below their midlines. In the 4 hours chart indicators also present a strong bearish momentum despite in extreme over sold territory, as price approaches this year low of 1.2240. A break below it should lead to a continued selloff, down to 1.2190 as immediate bearish target.

Support levels: 1.2270 1.2240 1.2190

Resistance levels: 1.2315 1.2360 1.2400 

GBP/USD Current price: 1.5625

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The GBP/USD pair trades slightly higher on the day, supported by strong Retail Sales readings in the UK, well above expectations. News had helped the pair to surge up to 1.5665, from where it quickly retraced back to current levels, weighted by general dollar strength. Nevertheless, the 1 hour chart shows that the price is developing above its 20 SMA while indicators head higher above their midlines after a limited pullback. In the 4 hours chart however, the technical picture is clearly bearish, as 20 SMA capped price around mentioned high whilst indicators head lower below their midlines. The downside seems limited at the time being, and a break below 1.5590 is required to confirm a bearish continuation.

Support levels:  1.5590 1.5540 1.5490 

Resistance levels: 1.5630 1.5665 1.5700

USD/JPY Current price: 119.27

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After a consolidative phase during the last 2 sessions, the USD/JPY pair broke above the 119.00 on US positive data, finding support also in rising stocks. The pair trades at a fresh 5-day high and the 1 hour chart shows it finally advanced above its 200 SMA, while momentum heads higher above 100 and RSI stands near 70. In the 4 hours chart technical readings present a strong upward momentum which supports further advances on a break above 119.45 immediate short term resistance.

Support levels: 118.90 118.50 118.20 

Resistance levels: 119.45 119.90 120.30

AUD/USD Current price: 0.8179

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The AUD/USD recovered ground this Thursday, up to 0.8200 were sellers once again halted the advance. Consolidating below it, the 1 hour chart shows price above its 20 SMA that stands flat around 0.8145 while indicators hold directionless well into positive territory. In the 4 hours chart the price remains capped below a bearish 20 SMA while indicators remain in negative territory, showing little aims to extend the latest advance. Above 0.8200 there should be some stops and if they got trigger, the rally may extend up to 0.8270, while a break below 0.8145 on the other hand should expose the pair to a decline to fresh year lows below 0.8105.

Support levels: 0.8145 0.8105 0.8060 

Resistance levels: 0.8200 0.8230 0.8270