EUR/USD Current price: 1.2915


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After yesterday’s rollercoaster, the EUR/USD is in franc recovery this Thursday, heading to fresh daily highs after US better than expected data. Asian session saw risk aversion trading, with Nikkei plunging over 7% and the pair posting a daily low of 1.2820. But along the European session, with peripheral yields falling and stocks off their lows, majors correct against the greenback. As for the short term, the EUR/USD hourly chart shows a clear upward momentum, although selling interest is aligned in the 1.2930/50 area: a clear advance above it may see the pair retesting the 1.3000 area although further gains are not likely. On the other hand, immediate support comes at 1.2880 area, and retracements below the level should see price testing back buyers determination in the 1.2800/40 price zone.



Support levels: 1.2885 1.2840 1.2810 



Resistance levels: 1.2925 1.2950 1.3000



GBP/USD Current price: 1.5071


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Pound also regained some ground against the greenback although the GBP/USD hourly chart shows indicators losing upward potential and turning lower after the pair reached 1.5093. Still standing in positive territory while price develops above 20 SMA, further advances may extend up to 1.5130, strong Fibonacci resistance. The pair is finding short term buying interest around 1.5050, so an acceleration below this last will deny the possibility of a recovery and see the pair approaching next Fibonacci support around 1.4990.



Support levels: 1.5020 1.4990 1.4945



Resistance levels: 1.5070 1.5100 1.5130



USD/JPY Current price: 101.48


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Yen soared with Nikkei plunge, sending USD/JPY as low as 100.82, 2-week low. The pair however recovered already almost 100 pips although the hourly chart shows price well below moving averages and technical indicators flat in negative territory after correcting extreme oversold readings. Immediate resistance comes at 101.80 yet only a stronger recovery, with sustained price gains above 102.10 will ease the bearish tone in the pair.



Support levels: 101.50 101.20 100.80



Resistance levels 101.80 102.10 102.40



AUD/USD: Current price: 0.9708


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AUD/USD also recovered some ground after testing a multi-month low of 0.9592 early Asia, struggling to firm up above the 0.9700 level. The hourly chart shows a short term upward momentum, although price unable to reach 0.9750, immediate resistance. In the 4 hours chart current recovery seems just corrective, with 20 SMA heading south above current price and indicators still in negative territory. Further recoveries are quite unlikely and sellers will probably rush in the 0.9750/0.9800 area.



Support levels: 0.9660 0.9620 0.9580



Resistance levels: 0.9750 0.9790 0.9840














































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