EUR/USD Current price: 1.3047
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The EUR/USD finally broke out its comfort zone this Thursday, rushing trough stops at the 1.3000 area, and reaching a daily high of 1.3060, following a worse than expected revision of US GDP, down to 2.4% from previous 2.5%. Weekly unemployment claims rose to 354K and along with GDP readings, guaranteed QE at the time being, sending stocks up and dollar down across the board.
The EUR/USD has spent most of the last hours consolidating in a 30 pips range below the high, with the hourly chart showing a strongly bullish 20 SMA while indicators turn flat near overbought readings, correcting some. In the 4 hours chart however, the pair maintains a strong upward momentum: buyers will now jump in on pullbacks towards 1.3000, while a break above mentioned 1.3160 should lead to an upward continuation towards 1.3100 this Friday.
Support levels: 1.3000 1.2960 1.2920
Resistance levels: 1.3060 1.3100 1.3140
EUR/JPY Current price: 131.65
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The EUR/JPY also advanced on the news, although yen self strength kept the pair inside its weekly range, barely changing the technical picture, just enough to set the range a bit higher. In the hourly chart price stands right above 200 SMA that holds still above 100 one, which in not a good sign for bulls, while technical readings turned flat in positive territory. The daily high was set at 132.00 where buyers seem to be accumulating these days. Range will likely persists unless a clear acceleration above 132.10 that will open doors for a more steady upward momentum. Dips on the other hand, are still seen as buying opportunities, although risk of a deeper move towards 128.80 remains high.
Support levels: 131.00 130.60 130.20
Resistance levels: 132.10 132.80 1.3340
GBP/USD Current price: 1.5217
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Trading at its highest level of the week, the GBP/USD is so far respecting the 50% retracement of its latest bullish run around 1.5220, although with price pushing higher despite indicators in the hourly chart had corrected some of the overbought readings, chances remain to the upside. As for the 4 hours chart, technical readings show a strong bullish momentum that supports the shorter term view. 200 EMA is now around 1.5260, next resistance once above 1.5220.
Support levels: 1.5205 1.5165 1.5130
Resistance levels: 1.5220 1.5260 1.5305
USD/JPY Current price: 100.81
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The USD/JPY has been quite busy this Thursday, falling to a fresh weekly low of 100.46, jumping back to 101.80 on news Japan has sold 1.1T bonds past week and rising US yields, to finally sunk again after US data. Ahead of Asian opening, the hourly chart shows an increasing bearish potential, as moving averages turn south above current price, while indicators hold in negative territory and price pressures towards daily low. With Friday being the last day of the month, profit taking could lead to a break lower, still eyeing 99.70 area, former highs and 61.8% retracement of this month run.
Support levels: 100.45 100.10 99.70
Resistance levels 101.00 101.25 101.60
AUD/USD: Current price: 0.9664
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The AUD/USD seems to have entered in a consolidative stage after past weeks fall, now trying to establish above 0.9660 strong static support level. The hourly chart shows price aiming higher above 20 SMA, while indicators remain around their midlines, with no actual bullish strength. As for the 4 hours chart technical readings maintain a neutral stance, with no much signs of further gains: price needs to accelerate above 0.9700, to suggest an upward movement is underway, with 0.9770 as next resistance to follow. The bearish trend however remains in place, so tight stops are a good if buying.
Support levels: 0.9620 0.9590 0.9540
Resistance levels: 0.9660 0.9700 0.9740
EUR/USD: 1.3100 now possible
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