EUR/USD Current price: 1.2870


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The EUR/USD extended its slide to 1.2841 purely on dollar momentum early Europe, although managed to bounce some on the back on discouraging US data: PPI is down to -0.7% while Empire manufacturing index printed a quite discouraging -1.4. The EUR/USD however, holds around 1.2880, strong midterm support level, so far unable to recover above it. A daily close lower, should indeed discourage even further buying interest, and put the pair on its way towards 1.2744, this year low. The hourly chart shows 20 SMA capping the upside now around 1.2920 while indicators barely correct extreme oversold readings. In the 4 hours chart technical readings maintain the bearish strength: pullbacks up to mentioned 1.2920 could be possible, but expect sellers to join way below 1.2970 next strong resistance area.



Support levels: 1.2840 1.2790 1.2745



Resistance levels: 1.2880 1.2920 1.2970 



GBP/USD Current price: 1.5236


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GBP/USD holds above the 50% retracement of its latest daily bullish run around 1.5210, as despite dollar strength positive UK employment and growth data is helping keep slides limited. However, recoveries remain shallow as the pair stands below its daily high of 1.5270. The hourly chart shows indicators aiming to recover positive territory as price overcomes a bearish 20 SMA, while in the 4 hours chart technical readings maintain the bearish outlook. Price needs to establish above 1.5310, 38.2% retracement of the same rally, to deny the downside, while a final break below 1.5210 should signal a downward continuation rally towards 1.5125, 61.8% retracement of the same rally.



Support levels: 1.5210 1.5160 1.5125



Resistance levels: 1.5270 1.5310 1.5340



USD/JPY Current price: 102.10


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The USD/JPY retraces from 102.75 high set early Europe, as negative US data along with falling stocks weight on the pair. The hourly chart shows indicators turning south nearing their midlines, and 100 SMA offering dynamic support around 101.50, probable bearish target if stocks continue to fall with US session. However, expect buyers to be aligned in the 101.25/101.50 area, and further falls seem quite limited.



Support levels: 102.00 101.50 101.25 



Resistance levels: 102.40 102.90 103.30



AUD/USD: Current price: 0.9902


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The AUD/USD bounces slightly higher from its daily low of 0.9851, with the hourly chart showing technical indicators far from oversold readings and approaching their midlines and current candle opening above 20 SMA. Despite indicators’ correction, price has been unable to post a solid advance, which means the negative outlook persist in the the pair. In the 4 hours chart 20 SMA stands offering resistance around 0.9950, yet if risk sentiment takes over, there is not much room for rises in the AUD/USD.



Support levels: 0.9850 0.9820 0.9790



Resistance levels: 0.9950 1.0000 1.0030












































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