EUR/USD Current price: 1.1329
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Light volumes across the forex board, keeps majors range bound, with the EUR being the worst performer so far against the greenback. Investors started the day with a positive mood given that Chinese Q3 GDP figures came out at 6.9%, beating expectations of 6.8%. Nevertheless, European stocks have lost their upward momentum as the session evolved, and Wall Street points for a flat opening. With little ahead in the macroeconomic calendar, except a couple of FOMC's members speeches, the EUR/USD suffered a bout of selling, down to 1.1308 daily basis, from where its currently bouncing. Nevertheless, the 1 hour chart shows that the price is well below its moving averages, whilst the technical indicators aim slightly higher in negative territory, keeping the upside limited. In the 4 hours chart, the 20 SMA turns lower around 1.1390, whilst the technical indicators are also bouncing some from their lows, but well below their mid-lines, supporting additional declines, should the price extend below the mentioned daily low.
Support levels: 1.1310 1.1280 1.1240
Resistance levels: 1.1375 1.1420 1.1460
GBP/USD Current price: 1.5480
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The common currency's generalized weakness gave the Pound a boost against the greenback, and the GBP/USD surged up to 1.5495, the daily high. Trading a few pips below the level, the pair maintains the bullish tone seen late last week, although it lacks upward momentum at the time being, giving the low volume across the board. Technically, the price consolidates near its highs and above a bullish 20 SMA in the 1 hour chart, whilst the technical indicators head slightly higher well above their mid-lines, in line with the dominant bullish trend. In the 4 hours chart, the technical indicators lack directional strength around their mid-lines, presenting a quite neutral stance, whilst the 20 SMA continues advancing below the current price. As long as above 1.5445, the downside seems quite limited, with further gains seen on a break above the mentioned daily high.
Support levels: 1.5445 1.5415 1.5380
Resistance levels: 1.5495 1.5530 1.5565
USD/JPY Current price: 119.36
View Live Chart for the USD/JPY
Risk remains towards the downside. The USD/JPY pair has shown little progress this Monday, unable to advance firmly above the 119.35 Fibonacci level, where it currently holds. The latest recovery, after posting a fresh 2-month low of 118.05, has resulted in lower highs weekly basis, which maintains the risk towards the downside. Short term, the 1 hour chart shows that the price is holding above a bearish 100 SMA, whilst the 200 SMA offers a dynamic resistance around 119.65. In the same chart, the technical indicators have turned south around their mid-lines, showing no actual strength at the time being. In the 4 hours chart, the price continues developing well below its moving averages, whilst the RSI indicator turned south around 49, anticipating additional declines for today, particularly if US stocks came under selling pressure.
Support levels: 118.90 118.55 118.05
Resistance levels: 119.65 120.00 120.35
AUD/USD Current price: 0.7267
View Live Chart for the AUD/USD
The AUD/USD pair trades flat daily basis, having met selling interest on a spike up to 0.7307, the daily high. The pair is being weighed by a tepid decline in gold prices and little progress in worldwide stocks after an initial advance. Technically speaking, the 1 hour chart is showing an increasing downward potential, as the price extends below its 20 SMA, whilst the technical indicators turned south around their mid-lines. In the 4 hours chart, the price retreated from its 20 SMA, while the technical indicators head south below their mid-lines, supporting further declines on a break below 0.7240, the immediate support.
Support levels: 0.7240 0.7210 0.7170
Resistance levels: 0.7290 0.7335 0.7380
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