EUR/USD Current price: 1.0892
View Live Chart for the EUR/USD
The market has entered holiday season already, with practically no volumes and a reduced 3-day week due to Christmas eve. Many markets will saw an early close on Thursday, and remain closed on Friday, and is common to see major pairs confined to tight ranges during these two weeks. Nevertheless, the US will release its final review of the third quarter GDP on Tuesday, and Durable Goods Orders on Wednesday, with both probably triggering some short lived moves. As for the EUR/USD pair, the 1 hour chart shows that the price has met selling interest around 1.0880, the 38.2% retracement of the latest monthly decline, but now advances above it, while the technical indicators are heading higher above their mid-lines and the price advances a few pips above a bullish 20 SMA. In the 4 hours chart, the technical indicators are turning slightly higher in neutral territory, whilst the price advances above a bearish 20 SMA, lacking any kind of directional momentum at the time being.
Support levels: 1.0840 1.0790 1.0750
Resistance levels: 1.0915 1.0950 1.1000
GBP/USD Current price: 1.4892
View Live Chart for the GPB/USD
The GBP/USD pair hovers around the 1.4900 level, consolidating its latest losses, and overall bearish despite the ongoing lack of directional strength. The pair trades a handful of pips above the 8-month low posted last week at 1.4863, and the 1 hour chart shows that the price is currently developing below a horizontal 20 SMA, while the technical indicators head slightly lower below their mid-lines. In the 4 hours chart, the price remains well below a bearish 20 SMA, the Momentum indicator has corrected oversold readings and approaches its 100 level from below, while the RSI indicator remains around 38, all of which maintains the risk towards the downside.
Support levels: 1.4860 1.4815 1.4770
Resistance levels: 1.4920 1.4950 1.4995
USD/JPY Current price: 121.29
View Live Chart for the USD/JPY
Consolidating near the recent lows. The USD/JPY pair consolidates near its recent lows, achieved after BOJ's announcement to change its facilities programs. The pair is holding around its 100 DMA, but the technical stance is bearish in the longer term, as the recent failure to advance beyond 123.00 and the following slump, point for a downward continuation. Shorter term, and according to the 1 hour chart, the downside is also favored, despite the lack of momentum present, given that the price is below its moving averages, whilst the technical indicators head south around their mid-lines. In the 4 hours chart, the bearish tone is clearer, given that the price develops well below its moving averages, whilst the technical indicators maintain their bearish slopes within negative territory. Nevertheless, a clear break below 121.05 is required to confirm additional declines that can extend down to 120.30 before meeting buying interest.
Support levels: 121.05 120.60 120.30
Resistance levels: 121.70 122.20 122.66
AUD/USD Current price: 0.7171
View Live Chart for the AUD/USD
The AUD/USD pair trades flat around its daily opening, also showing no aims to go far away from it. The Australian calendar will remain pretty much empty this week, which means markets' direction will depend solely on the USD. Technically speaking and in the short term, the downside seems limited as the technical indicators have crossed their mid-lines towards the upside, whilst the price advances above its 20 SMA. In 4 hours chart, however, the technical picture is flat and will remain so as long as the 0.7150/0.7200 range persists.
Support levels: 0.7150 0.7120 0.7070
Resistance levels: 0.7200 0.7240 0.7280
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