EUR/USD Current price: 1.0659

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The greenback traded generally higher this Tuesday, with the EUR/USD pair extending its latest decline to a fresh multi-month low of 1.0642 during the European morning.  The pair attempted a recovery but the lack of European data and the better-than-expected result of US inflation readings, keeps the dollar on demand. Ahead of the US opening, the EUR/USD 1 hour chart shows that the price is unable to advance beyond a strongly bearish 20 SMA, whilst the technical indicators are turning south below their mid-lines, after correcting oversold readings. In the 4 hours chart, the price is well below its 20 SMA, while the Momentum indicators is resuming its decline deep into the red, and looking for fresh lows, maintaining the risk towards the downside. 

Support levels: 1.0630 1.0590 1.0550

Resistance levels: 1.0680 1.0715 1.0750 

GBP/USD Current price: 1.5199

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The GBP/USD pair fell down to 1.5153, a fresh weekly low, bouncing then up to the 1.5210 region on the back of mixed inflation data. In the UK, the Consumer Prices Index fell by 0.1% in the year to October 2015, matching expectations, whilst compared to a month before, inflation was up by 0.1%. The wholesale inflation however, fell in the same period, although less than in September. The pair's recovery, however, stalled around its daily opening and a strong resistance region, the 38.2% retracement of its latest decline and the 20 SMA in the 4 hours chart. Shorter term, the 1 hour chart shows that the price is holding above a mild bearish 20 SMA, while the technical indicators have turned lower, but remain around their mid-lines, lacking clear directional strength. In the 4 hours chart, the technical indicators also present a neutral stance, with only a downward acceleration below 1.5160 suggesting a bearish continuation for this Tuesday.

Support levels: 1.5160 1.5120 1.5070

Resistance levels: 1.5215 1.5265 1.5310

USD/JPY Current price: 123.30

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Consolidating gains. The USD/JPY pair holds to its recent gains, but remains within a limited intraday range, which erased any possible sign of strength in the technical readings. The  1 hour chart shows that the price is still well above its 100 and 200 SMAS, while the Momentum indicator is barely turning higher around its 100 level and the RSI indicator heads north around 58, just enough to keep the downside limited in the short term. In the 4 hours chart, the technical indicators are resuming their advances well above their mid-lines, in line with the shorter term view. Nevertheless, the pair needs to break above 123.55, last week high, to be able to extend its rally during the upcoming hours. 

Support levels: 122.80 122.30 122.00 

Resistance levels: 123.55 123.90 124.40

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