EUR/USD Current price: 1.0972
View Live Chart for the EUR/USD
The EUR/USD pair trades slightly higher this Monday, having reached so far a daily high of 1.0991 ahead of the US opening. The last week of the month is seeing a strong lack of volumes across the financial world, and currencies' pairs trade within tight ranges. With no relevant macroeconomic releases having been published in Europe, and only a minor manufacturing index scheduled for the US afternoon, the 4 hours chart presents a neutral-to-bullish stance, as the price holds above a bullish 20 SMA and above the 61.8% retracement of the latest daily decline, while the technical indicators stand directionless above their mid-lines. During this upcoming days, majors will likely trade in slow motion, with some short lived intraday spikes in between.
Support levels: 1.0955 1.0920 1.0880
Resistance levels: 1.1000 1.1045 1.1090
GBP/USD Current price: 1.4902
View Live Chart for the GPB/USD
The GBP/USD trades near a daily low set at 1.8495 during the European session, having remained capped by the 1.4950 level ever since breaking below it mid December. The pair has been trading within a descendant channel for the past three months, and the pair bounced from the base of it last week when it reached 1.4804, although the bearish tone persists, as the 4 hours chart shows that the price is now standing above a flat 20 SMA while the technical indicators have turned lower above their mid-lines, pointing for a bearish short term move ahead. The limited volume, however, may see the downward potential limited to the 1.4850/60 region, on a break towards fresh lows.
Support levels: 1.4890 1.4860 1.4825
Resistance levels: 1.4920 1.4950 1.4985
USD/JPY Current price: 120.47
View Live Chart for the USD/JPY
Japan data released at the beginning of the week showed that retail sales disappointed big, falling by 2.5% in November compared to a month before, and down 1.0% yearly basis. Preliminary Industrial Production in the country and for the same month show an improvement yearly basis, up to 1.6%, although the monthly reading came out negative, the first fall in three months. The USD/JPY started the day with a downward gap, falling down to 120.09, but quickly recovered, as buying interest defends the psychological figure. Technically, the pair maintains a bearish tone, after breaking below a daily ascendant trend line coming from August low, now providing a strong resistance around 121.10. Additionally, the 4 hours chart shows that the price is far below its 100 and 200 SMAs, quite bearish , whilst the technical indicators remain within bearish territory. The RSI indictor is the one leading the way, heading lower around 39, although a break below 120.00 is required to confirm additional falls during the upcoming days.
Support levels: 120.35 120.00 119.60
Resistance levels: 120.70 121.10 121.40
AUD/USD Current price: 0.7265
View Live Chart for the AUD/USD
The Aussie started the day with a positive tone, posting a tepid advance against the greenback during the Asian session. A retracement following London's opening met buyers around 0.7254, keeping the pair near its recent highs. Trading in the red daily basis, the 4 hours chart shows that the price is holding above its 20 SMA and the 200 EMA broken last week, whilst the technical indicators hold above their mid-lines, showing no directional strength. The heavy tone in commodities is set to keep the upside limited, while a key support stands at 0.7240, and it will take a break below it to see a downward move towards 0.7200.
Support levels: 0.7240 0.7200 0.7165
Resistance levels: 0.7280 0.7330 0.7365
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