EUR/USD Current price: 1.3348

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E

Pretty uneventful Monday with the US closed on holidays, saw the EUR/USD end up unchanged from its weekly opening around current 1.3350 area. ECB’s president Mario Draghi addressed to the European Parliament’s Economic and Monetary Committee, in Brussels, saying nothing that the market haven’t hear before. Technically neutral in the short term, as indicators stand flat around their midlines, the pair had found sellers on approaches to the 1.3400, which keeps last week bearish tone intact.  Price however, needs to break below the 1.3300/10 area to be able to extend its slide today, as buying interest has been largely reported around those levels. The upside continues to be seen limited, with spikes towards 1.3400/40 being considered selling opportunities. 

Support levels: 1.3310 1.3260 1.3220

Resistance levels: 1.3375 1.3410 1.3440

EUR/JPY Current price: 125.43

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EY

Consolidating most of the day, the EUR/JPY found support in Abe’s comments on the possibility of buying foreign bonds. The Prime Minister seems determinate to continue weakening the yen despite G20 pledge to refrain from competitive devaluation. And personally, I don’t see how the troubled economies around the world, desperate for liquidity, can refuse to sell bonds to Japan. Anyway, the pair is short term flat although holding to its bullish trend, as the hourly chart shows price steady above the 125.30 area, immediate support, also above 100 and 200 SMAs. Bigger time frames present a slightly bullish tone coming from technical readings, with a break above 125.90 anticipating more gains towards the 127.10 price zone.

Support levels: 125.30 124.80 124.30 

Resistance levels: 125.90 126.60 127.10

GBP/USD Current price: 1.5462

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G

The GBP/USD posted yet another lower low daily basis, this time at 1.5436, entering Asian session barely above the level. While the bearish trend has lost some momentum over the last few sessions the bearish bias remains intact: spikes are seen as selling opportunities by the market, that quickly takes price down on recoveries. Technical readings both in the 1 and the 4 hours chart stand in negative territory, and there are no signs of a bottom around. A break below 1.5440 immediate support should favor a test of 1.5400 area, while once below this last, 1.5260 seems achievable in the upcoming sessions.

Support levels: 1.5440 1.5400 1.5370

Resistance levels: 1.5480 1.5510 1.5535

USD/JPY Current price: 93.92

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Y

The USD/JPY holds around 94.00, ending the day with some gains and having been unable to close the weekly opening gap left around 93.50. The lack of volume has left short term charts’ readings neutral, but in the 4 hours chart the pair presents a bullish stance, which helps prevent slides along with buying interest. Approaches to mentioned 93.50 yet failure to break below will probably anticipate an advance back towards 94.50 area, while once above there’s scope for a test of the 95.00 price zone.

Support levels: 93.50 93.10 92.60 

Resistance levels: 94.15 94.50 94.90

AUD/USD: Current price: 1.0301

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A

The AUD/USD hovers in a 20 pips range around 1.0300 ahead of latest RBA Minutes, to be published in a couple hours. Technically bearish, the pair is finding some demand in the 1.0260/70 area immediate support. A break below will favor a retest of the 1.0220 area, and a dovish statement that points for further rate cuts may trigger the move. On the other hand, a more hawkish tone may see the pair rising towards 1.0370 area, where the strength of latest bearish interest will be challenged, as break above such level, will deny the downside an favor more gains ahead with 1.0500 then at sight.

Support levels:  1.0300 1.0260 1.0220 

Resistance levels: 1.0330 1.0370 1.0410 

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