EUR/USD Current price: 1.2208
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The EUR/USD pair trades uneventfully around the 1.2200 level, despite increasing turmoil coming from Greece. The ruling party failed to gathered support in the third ballot, triggering snap presidential elections in the country. Year-end holidays keep volumes at their lowest since last August, the main reason of the ongoing lack of action across the forex board. Technically, the 1 hour chart shows that the price trades above its 20 SMA but seems unable to establish above 100 SMA, whilst indicators head higher above their midlines, supporting some further short term advances. In the 4 hours chart technical readings also present a mild positive tone, although without actual momentum at the time being. Further recoveries may extend up to the 1.2275 price zone, albeit further range trading should be expect for this whole week.
Support levels: 1.2165 1.2120 1.2085
Resistance levels: 1.2240 1.2275 1.2300
GBP/USD Current price: 1.5549
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The GBP/USD pair advanced early Monday up to 1.5585, but turned south mid European morning, breaking below a short term ascendant trend line coming from this year low of 1.5485. The 1 hour chart shows that the 20 SMA is now acting as dynamic resistance around the broken trend line at 1.5560, whilst indicators turned lower around their midlines, maintaining a neutral to bearish technical stance. In the 4 hours chart the price struggles around a bearish 20 SMA while indicators also hold around their midlines, giving no directional clues at the time being.
Support levels: 1.5540 1.5515 1.5485
Resistance levels: 1.5560 1.5590 1.5615
USD/JPY Current price: 120.47
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The USD/JPY pair has been trading in a tight 40 pips range since the day started, hovering around current level for most of the European session. Despite Nikkei slide on a suspected case of Ebola in Japan, the pair remains lifeless. Technically the 1 hour chart shows momentum indicator flat around 100, albeit 100 SMA continues to provide intraday support, now around 120.25. In the 4 hours chart indicators present a mild negative tone in neutral territory, whilst the price develops well above moving averages, all of which suggests the downside will remain limited.
Support levels: 120.25 120.00 119.65
Resistance levels: 120.85 121.10 121.55
AUD/USD Current price: 0.8146
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The Australian dollar got an early boost from China, as the country announced more easing in its monetary policy to fuel growth, sending the AUD/USD pair to an intraday high of 0.8161. Nevertheless, the 1 hour chart shows little upward momentum, as despite the price holds above a bullish 20 SMA, indicators had turned lower in positive territory. In the 4 hours chart technical indicators present a mild positive tone, also lacking strength at the time being. As long as below the 0.8200 mark, chances of an upward move will likely remain limited, whilst a breach of the year low at 0.8087 is required to confirm a new leg south.
Support levels: 0.8085 0.8060 0.8025
Resistance levels: 0.8170 0.8200 0.8240
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