EUR/USD Current price: 1.2895
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Market has seen dollar giving up ground steadily this Monday, with the EUR/USD trading at its highest in 2 days by the end of US session, near 1.2900. The slow but steady surge has been supported by a general recovery in commodities, along with yen strength following Japan EM Amari’s comment past Sunday, in regards of yen weakness. The EUR/USD hourly chart shows price managed to bounce around 1.2840, where 20 SMA along with a short term ascendant trend line offered short term support, while indicators head north in positive territory. In the 4 hours chart, technical readings also point for an upward continuation, with price above 20 SMA and indicators heading higher around their midlines.
However, movement remains mostly corrective after the almost steady slide from 1.3200: price advances will find short term sellers at 1.2950 first, while once above, 1.3000 should attract even more selling interest.
Support levels: 1.2840 1.2810 1.2785
Resistance levels: 1.2920 1.2950 1.3000
EUR/JPY Current price: 131.90
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The EUR/JPY traded range bound after the initial rush of adrenaline, finding short term support in its hourly 200 SMA currently around 131.60. Having been unable to fill the opening gap around 132.45, technical readings in the mentioned time frame turned neutral, as indicators hover around their midlines while price stands around a flat 100 SMA, giving not much clues on next direction. Yen may be stronger, but investors seem not ready to buy it, still wary of the strong yen bearish momentum seen over the past months. Risk of a stronger slide however, increases on a break below 131.00/10 area, with scope then to test major support around 128.80 over the upcoming sessions.
Support levels: 131.60 131.10 130.40
Resistance levels: 132.00 132.40 132.90
GBP/USD Current price: 1.5270
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The GBP/USD advances to fresh daily highs at the time being, presenting a strong upward momentum in the hourly chart although trading a few pips below past Friday high of 1.5181 and immediate resistance. In the 4 hours chart technical readings also present a strong upward momentum, suggesting further gains with 1.5310 area, 38.2% retracement of its latest bullish run, as key resistance to watch, as steady gains above, will likely deny the possibility of a bearish continuation, and see price advancing further.
Support levels: 1.5250 1.5210 1.5170
Resistance levels: 1.5281 1.5310 1.5350
USD/JPY Current price: 102.32
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Yen advances against the greenback, with the pair now trading below 100 SMA in the hourly chart currently around 102.40 and offering short term resistance, while indicators maintain the bearish slope in negative territory. The intraday fall despite steady has been quite limited, as risk to the upside is still high. However, further slides may not be discarded up to 101.25 area, past week low: if strong buying interest does not surge on approaches to the area, then downward corrective movement can extend towards 99.70 area later this week.
Support levels: 102.10 101.80 101.50
Resistance levels 102.40 102.75 103.20
AUD/USD: Current price: 0.9822
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Australian dollar finally corrected higher, after 2 weeks of steady losses, still far from suggesting a bottom may be developing in the longer term. In the hourly chart however, technical readings favor an upward continuation, with 20 SMA gaining bullish slope below current price and indicators heading higher in positive territory. In the 4 hours chart price stands above 20 SMA, first time since May 9th, also supporting the upward continuation that may attempt to reach 0.9910/20 are today.
Support levels: 0.9790 0.9750 0.9720
Resistance levels: 0.9850 0.9880 0.9910
EUR advances, as yen puts dollar demand on hold
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