EUR/USD Current price: 1.1056
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The dollar is under pressure this Tuesday, extending its early decline after the release of US Durable Goods Orders that unexpectedly fell in September, by 1.2%, beyond the 1.1% decline expected. The core reading also missed expectations falling by 0.4%. Nevertheless, the movements across the board are for the most shallow, ahead of the FOMC meeting on Wednesday, and the EUR/USD trades a few pips above the 1.1050 level, where it has been consolidating ever since the week started, having been as high as 1.1078 following the news. With the Markit Services PMI and Consumer Confidence ahead, the EUR/USD pair continues lacking directional strength, as the 1 hour chart shows that the price is barely above a horizontal 20 SMA, whilst the technical indicators hover above their mid-lines. In the 4 hours chart, the technical indicators continued correcting higher but remain below their mid-lines, whilst the 20 SMA has extended further its decline and the price hovers around it ahead of the US opening. Additional gains above 1.1080 should lead to further advances up to the 1.1120 region, whilst further gains beyond this last exposed the 1.1160 price zone.
Support levels: 1.1000 1.0960 1.0920
Resistance levels: 1.1080 1.1120 1.1160
GBP/USD Current price: 1.5336
View Live Chart for the GPB/USD
UK growth slowed during the third quarter of this 2015, sending the GBP/USD down to 1.5307, where buyers quickly surged to defend the figure. The pair trades in a tight range near its lows and the short term picture is bearish, as in the 1 hour chart, the price is below a bearish2 0 SMA, whilst the technical indicators remain below their mid-lines, albeit showing no directional strength. In the 4 hours chart, the early spike was rejected from a strongly bearish 20 SMA, whilst the technical indicators also stand directionless below their mid-lines. Should the pair accelerate below the 1.5300 figure, the decline may extend down to 1.5250, whilst in the short term, spikes are seen as selling opportunities.
Support levels: 1.5295 1.5250 1.5210
Resistance levels: 1.5370 1.5415 1.5450
USD/JPY Current price: 120.42
View Live Chart for the USD/JPY
Bouncing from the lows. The USD/JPY pair plunged during the Asian session, following a sharp decline in local share markets, as risk sentiment led the session. The decline extended down to 120.15 after the release of poor US Durable Goods Orders readings, but quickly bounced back above the 120.35 level, a strong Fibonacci support, and the 1 hour chart shows that the technical indicators are bouncing from oversold readings, suggesting the pair may extend its upward corrective move, particularly if the upcoming US data beats expectations. In the same chart, the 100 SMA provides an immediate resistance around 12.0.65, while the 4 hours chart shows that the technical indicators are also heading higher, but still not confirming a continued advance, given that they remain below their mid-lines.
Support levels: 120.35 120.00 119.70
Resistance levels: 120.65 121.00 121.45
AUD/USD Current price: 0.7230
View Live Chart for the AUD/USD
The AUD/USD pair trades near its daily around 0.7227, weighed by the negative tone in commodities, and accelerating its decline after failing to recover firmly above 0.7240 after US data release. The pair turned short term bearish this Tuesday, as the 1 hour chart shows that the price is now below a bearish 20 SMA, whilst the technical indicators have turned lower below their mid-lines, pointing for a test of the 0.7200 figure. In the 4 hours chart, the price is right below a directionless 20 SMA, whilst the technical indicators present tepid bearish slopes below their mid-lines, in line with further declines.
Support levels: 0.7195 0.7150 0.7110
Resistance levels: 0.7245 0.7290 0.7335
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