EUR/USD Current price: 1.1387
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The EUR/USD falls below the 1.1400 level ahead of the US opening, having been as low as 1.1366 earlier in the day. The dollar's intraday strength is being attributed to falling European bonds, and rising yields, although some profit taking, triggered by escalating Greek woes, can also be behind this moves. Nevertheless, the EUR/USD pair trades within familiar ranges, and even regained briefly the mentioned high as buyers are waiting on dips. Technically however, the short term picture favors the downside, as the 1 hour chart shows that the price develops below its 20 SMA, whilst the technical indicators head strongly south below their midlines. In the 4 hours chart, the technical picture is bearish, with the price extending below its 20 SMA and the technical indicators heading lower below their mid-lines. The 1.1340 level has proved strong in the past, so it will take a break below it to confirm additional declines in the pair, although buying interest will likely surge in the 1.1250/80 region, if reached.
Support levels: 1.1340 1.1310 1.1280
Resistance levels: 1.1415 1.1460 1.1500
GBP/USD Current price: 1.5675
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The British Pound presents a soft tone this Monday, trading near its daily low of 1.5650 against the greenback. The GBP/USD pair has been finding sellers around the 1.5700 level, with the 1 hour chart showing that the 20 SMA maintains a bearish slope well above the current price, whilst the technical indicators remain in negative territory, albeit lacking directional strength. In the 4 hours chart the 20 SMA stands flat around 1.5745, whilst the technical indicators head lower in negative territory, supporting additional slides, should the price extend below 1.5640, the 23.6% retracement of its latest bullish run and the immediate support.
Support levels: 1.5640 1.5600 1.5550
Resistance levels: 1.5700 1.5745 1.5790
USD/JPY Current price: 119.69
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The USD/JPY pair advanced during Asian hours amid poor Japanese data, with the pair however unable to extend its gains beyond the daily high set at 119.76. The 1 hour chart shows that the price is finding short term intraday support around its 200 SMA, although the technical indicators are turning lower in positive territory. In the 4 hours chart, the price holds above its 100 and 200 SMAs, both horizontal and in a tight range, while the Momentum indicator is turning lower above 100 and the RSI indicator holds steady around 55.
Support levels: 119.60 119.20 118.80
Resistance levels: 120.10 120.45 120.85
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