EUR/USD Current price: 1.0902
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The EUR/USD pair extended its decline early Tuesday falling down to 1.0884, having however bounced up to the 1.0930 price zone ahead of US data releases. Increasing risk of a Greek default alongside with Mrs. Yellen willingness to raise US rates this year, have boosted the greenback by the end of last week, although data now needs to be steadily constructive in the US to confirm the latest investors' choice. The first key macroeconomic release in the US, the Durable Goods Orders for April fell 0.5%, although the Core reading surge 0.5% whist previous month figures were strongly revised higher. The dollar got a boost despite the monthly decline, and the EUR/USD fell down to test its low following the release. Technically, the 1 hour chart shows that the technical indicators have turned back lower below their mid-lines, whilst the 20 SMA provided intraday resistance. In the 4 hours chart, the price remains well below its moving averages, whilst the Momentum indicator heads strongly lower well below their mid-lines as the RSI consolidates around 28. Renewed selling interest below 1.0870, the immediate support, is now required to confirm a later approach to the 1.0800 region before the day is over.
Support levels: 1.0870 1.0830 1.0800
Resistance levels: 1.0940 1.0975 1.1010
GBP/USD Current price: 1.5382
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The GBP/USD pair declined to a fresh 3-week low of 1.5383 early in the European session, having been unable to firm up above the 1.5400 figure until the release of US Durable Goods Orders, which sent the pair to a fresh low of 1.5359, with the price testing the 61.8% retracement of its latest daily bullish run. The 1 hour chart shows that the technical indicators maintain their bearish slope, with the RSI in oversold territory, whilst the 20 SMA has extended its decline above the current level, and extended below the 50% retracement of the same rally around 1.5440, now a critical resistance level. In the 4 hours chart, the price flirted with the 200 EMA, a few pips below the mentioned 61.8% retracement, whilst the technical indicators continue to head lower near oversold levels, supporting additional declines on a break below the mentioned low.
Support levels: 1.5360 1.5320 1.5260
Resistance levels: 1.5400 15440 1.5495
USD/JPY Current price: 122.97
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The USD/JPY managed to extend up to a year high a few pips below the 123.00 figure, reaching 122.86 this Tuesday, now resuming its advance, and with a strong upward short term tone, as the 1 hour chart shows that the price advanced further above its moving averages, whilst the technical indicators extended their advances after a limited downward correction, in extreme overbought levels. In the 4 hours chart the technical indicators head sharply lower, also in extreme overbought territory, supporting a steadier advance towards the 125.00 figure for the upcoming sessions.
Support levels: 122.70 122.30 121.90
Resistance levels: 123.20 123.50 123.85
AUD/USD Current price: 0.7772
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The Aussie fell down to 0.7771 against the greenback on broad dollar strength, with the AUD/USD pair trading even lower after the first round of US data. The 1 hour chart shows that the price is below a bearish 20 SMA, currently around 0.7810, whilst the technical indicators head sharply lower below their mid-lines. In the 4 hours chart, the 20 SMA maintains a strong bearish slope, and extended further below the 200 EMA, whilst the technical indicators continue to grind lower in negative territory, pointing for a continued decline towards the 0.7500 figure.
Support levels: 0.7750 0.7710 0.7660
Resistance levels: 0.7810 0.7845 0.7890
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