EUR/USD Current price: 1.3184


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Despite the strong upward momentum seen in European currencies this Wednesday, the upward continuation is not a done deal: both EUR and GBP failed to overcome key Fibonacci resistances after testing them, and retrace amid falling stocks ahead of US close. FED economic policy decision, resulted in a not that dovish stance, as the Central Bank did not offered any review to the economic outlook, while granted more or less QE as needed, to maintain appropriate liquidity. 



Still the dollar is down across the board, with the EUR/USD having been as high as 1.3241, a few pips above 1.3225, 50% retracement of its latest daily fall. The pair however, was unable to sustain gains beyond the level, or even open an hourly candle above it. As US session fades, the pair trades around a still bullish 20 SMA in the hourly chart while indicators maintain the positive tone, heading north above their midlines, while in the 4 hours chart, technical readings turn south from overbought levels. Overall, the pair is expected to consolidate in between 1.3150, 100 DMA and 1.3225 Fibonacci level, until next Thursday ECB policy meeting.



Support levels: 1.3150 1.3115 1.3070



Resistance levels: 1.3225 1.3260 1.3295



EUR/JPY Current price: 128.22


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The EUR/JP surged to 128.80 static resistance area after the FED, only to give up almost all of its gains with stocks slide. As commented on previous updates, risk remains to the downside for yen crosses, and BOJ Minutes during next Asian session, would do little to change it. The hourly chart shows price contained below 200 SMA on its spike higher, while price finds short term support in the 100 one, as indicators maintain the positive tone. However, sustained losses below 128.40 should lead to a downside continuation with 127.80 still the key support to break to see a continued slide in EUR/JPY.



Support levels: 128.00 127.60 127.10 



Resistance levels: 128.40 128.80 129.50



GBP/USD Current price: 1.5556


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GBP/USD extended its gains to 1.5605, testing by the pip the 50% retracement of the 1.6381/1.4830 daily slide. While consolidating nearby, the pair losses some ground amid dollar advance, but the bullish trend remains intact. In the hourly chart, price tests its 20 SMA while indicators head south above their midlines, while in the 4 hours chart, momentum heads lower still above the 100 level.  20 SMA around 1.5520 in this 4 hours chart is the key short term support, and if buyers are defeated, downside risk increases with 1.5430 then at sight.



Support levels:  1.5540 1.5490 1.5450 



Resistance levels: 1.5580 1.5610 1.5650



USD/JPY Current price: 97.34


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The USD/JPY showed little signs of life this Wednesday, barely managing to hold above the 97.00 level. The hourly chart shows indicators in neutral territory, while 100 SMA heads strongly down above current price and widening the distance with 200 one, confirming the negative bias in the pair. In the 4 hours chart technical readings turned flat in negative territory, supporting the overall view. 96.70 remains as key midterm support, and if broken, the downside is open for a 200 pips slide.



Support levels: 97.10 96.70 96.35



Resistance levels: 97.50 97.80 98.20 



AUD/USD: Current price: 1.0267


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The AUD/USD trades near key 1.0260 support losing over 100 pips from the highs around 1.0370. The hourly chart shows indicators heading strongly south in oversold levels and after a limited upward correction, while 20 SMA heads strongly south above current price. In the  4 hours chart technical readings also signal a bearish continuation, with indicators crossing their midlines and price accelerating below 20 SMA. Failure to hold above 1.0300 has increased the bearish potential in the midterm, although steady losses below 1.0260 are now required to confirm a bearish continuation. Spikes up to 1.0335 should be understood as selling opportunities over the next sessions. 



Support levels: 1.0260 1.0220 1.0180



Resistance levels: 1.0300 1.0335 1.0380 
































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