EUR/USD Current price: 1.2875
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A month ago, soft US data should have see dollar get smashed across the board: market would have bet QE would maintain its ad eternum status, running to buy risk. Not only movements against greenback had been shallow after the releases, but the dollar is getting a boost at the end of the American session, as FED Williams reiterate the Central Bank may start trimming facilities as soon as this summer.
The EUR/USD erased all of its intraday gains and edges lower below 1.2890, the level that capped the upside most of past Wednesday, having been as high as 1.2930, where 20 SMA in the 4 hours chart acted as strong intraday resistance. The hourly chart shows price below 20 SMA while indicators turn south and approach their midlines, suggesting further slides ahead: 1.2840 this week low, is the level to beat to confirm and extension towards 1.2744 this year low.
Support levels: 1.2840 1.2790 1.2744
Resistance levels: 1.2890 1.2930 1.2970
EUR/JPY Current price: 131.74
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The EUR/JPY traded slightly lower this Thursday, as yen saw a temporal lift after US disappointing numbers, leaving the pair below its 100 SMA in the hourly chart that turned flat after the pair lost all upward momentum. Technical readings in the mentioned time frame hold around their midlines, while bigger also lack clear direction coming from technical readings: expect the pair to continue trading range bound with 131.00 as key support to break to confirm a stronger bearish move this Friday.
Support levels: 131.50 131.10 130.70
Resistance levels: 132.00 132.40 132.90
GBP/USD Current price: 1.5276
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The GBP/USD was the daily winner, advancing towards 1.5305 price zone, 38.2% retracement of its latest bullish run, after spending most of the past two days hovering around 1.5215, 50% retracement of the same rally. The hourly chart shows technical readings retracing from overbought levels, while price remains steady above a bullish 20 SMA around 1.5250 an immediate support, suggesting there’s not enough selling interest around yet. In the 4 hours chart, technical readings still head higher although in negative territory, while 20 SMA maintains a bearish slope below current price, also around 1.5250. A break below this last should open doors for further losses today,
Support levels: 1.5250 1.5215 1.5160
Resistance levels: 1.5305 1.5340 1.5375
USD/JPY Current price: 102.24
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The USD/JPY remains stuck in the 102.30 area, having been as low as 101.82, early US session. Despite the lack of follow trough over the last few days, the pair maintains the positive tone as dips don’t fail to found buyers. In the hourly chart technical picture is quite neutral, with 100 SMA offering short term support around 101.90, while in the 4 hours chart the technical picture is quite the same, with indicators aiming lower towards their midlines. 101.25, May 14th low is key level to watch and dips towards the level should attract buyers keeping the downside limited.
Support levels: 101.90 101.50 101.25
Resistance levels: 102.40 102.75 103.15
AUD/USD: Current price: 0.9803
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Australian dollar trades against the greenback around it daily low of 0.9796, maintaining the bearish bias seen over the past few weeks. The hourly chart shows indicators gaining bearish momentum while 20 SMA also gains bearish slope above current price, pointing for more slides ahead. In the 4 hours chart picture is also strongly bearish, with market eyeing strong mid term support around 0.9650 for next week.
Support levels: 0.9790 0.9755 0.9720
Resistance levels: 0.9850 0.9900 0.9940
EUR, AUD still dominated by sellers
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