EUR/USD Current price: 1.3297

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The EUR/USD run into some offers after testing a daily high of 1.3318, trading strongly up on the day, on a general positive market mood. Ahead of the Italian elections results, the hourly chart maintains a strong upward momentum, with indicators heading north in overbought levels. With 1.3270 now as immediate support, as long as price stands above that level, there’s scope for a test of 1.3350 area, where a daily descendant trend line coming from 1.3710 will challenge bulls’ determination. In the 4 hours chart indicators head north approaching their midlines, while price stands now well above 20 SMA, offering short term support in the 1.3230 area.  The upside is short term favored, with a daily close above 1.3350 opening doors for further recoveries.

Support levels: 1.3270 1.3230 1.3190

Resistance levels: 1.3320 1.3350 1.3385

GBP/USD Current price: 1.5099

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Pound managed to fill the opening gap against the greenback with the pair reaching 1.5161 before easing back to current 1.5100 price zone. The hourly chart shows price stalled at a strongly bearish 20 SMA, while indicators turn back south after correcting extreme oversold readings reached with the Asian opening. In the 4 hours chart technical readings also support the downside, with 1.5070 now as level to breach to confirm a downward continuation. 

Support levels: 1.5070 1.5030 1.4980

Resistance levels: 1.5120 1.5160 1.5210

USD/JPY Current price: 94.00

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The USD/JPY slowly corrected lower after a daily opening above 94.50, reaching 93.66 before regaining the upside on EUR/JPY demand. The hourly chart shows a slightly positive tone as price stands above moving averages, although indicators are mostly neutral, around their midlines. In the 4 hours chart indicators bounce higher from their midlines, which gives the pair a positive intraday outlook: steady gains above 94.50 however are needed, to confirm further gains towards the 95.20 price zone.

Support levels: 94.00 93.80 93.30

Resistance levels: 94.55 94.90 95.20 

AUD/USD: Current price: 1.0304

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The AUD/USD surged to the 1.0330 area, turning then lower and gaining bearish tone ahead of the US opening according to the hourly chart: indicators head back south as price approaches its 20 SMA that holds a bearish slope. In the 4 hours chart however, momentum remains strongly up, keeping the downside limited. Gains will run into stronger offers in the 1.0370 area, top of these lasts days’ range. The downside is being now protected by 1.0260 static support level, and only below this last bears will gain control.

Support levels:  1.0260 1.0220 1.0180

Resistance levels: 1.0330 1.0370 1.0410 


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