EUR/USD Current price: 1.2934
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The FED left a bunch of questions without answer, and uncertainty was the name of the game this Thursday: Nikkei sunk over 7% leading to strong dollar and yen gains that extended early Europe. Stocks dive in red, but the US came to the rescue: American opening saw stocks bouncing strongly up from pre opening negative stance, aiming for fresh highs in positive territory as the session comes to an end.
The EUR/USD, recovered over 100 pips from its daily low at 1.2820, but still remains capped below 1.2950 strong static resistance level. The hourly chart shows indicators losing strength in overbought territory, while 20 SMA heads north well below current price. In the 4 hours chart positive momentum persists although steady gains above mentioned resistance are now required to confirm further advances towards 1.3000 key psychological level.
Support levels: 1.2920 1.2885 1.2840
Resistance levels: 1.2950 1.3000 1.3040
EUR/JPY Current price: 131.82
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Buyers of yen crosses had proved today is not good idea to go against the trend: the EUR/JPY fell to 129.95 before recovering near 200 pips, showing buying on dips is still the name of the game. The hourly chart however, shows current recovery unable to overcome the 132.00 area, where the pair presents both 100 and 200 SMAs, while indicators are still in negative territory. Price needs to recover above the 132.00 level to be able to continue advancing, eyeing then 132.80 price zone. If Nikkei shows some signs of life today, recovering at least partially the ground lost yesterday, then chances are to the upside for JPY crosses.
Support levels: 131.50 131.10 130.60
Resistance levels: 132.00 132.40 132.90
GBP/USD Current price: 1.5102
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The GBP/USD also recovered ground on dollar downside correction, but the pair found sellers in the 1.5130 Fibonacci resistance, keeping latest short term bullish run as a mere correction. The hourly chart shows indicators heading south from oversold readings, and price above a bullish 20 SMA, indicating no time to sell or buy: price needs to break below 1.5050 to regain the downside, while steady gains above 1.5130 will point for further recoveries, up to 1.5170/80 price zone.
Support levels: 1.5070 1.5020 1.4990
Resistance levels: 1.5130 1.5175 1.5210
USD/JPY Current price: 101.85
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The USD/JPY is being limited by 102.00, after reaching 100.82 past Asian session. Short term picture remains unclear, as price develops below its moving averages in the hourly chart, while indicators aim higher in negative territory, approaching their midlines. In the 4 hours cart indicators get into negative territory and turned flat, also giving not much clues on direction. Price needs to recover and consolidate above 102.00/10 area to deny the downside and be able to extend its recovery, while renewed selling pressure below 101.20 will expose the pair to fresh weekly lows.
Support levels: 101.50 101.25 100.80
Resistance levels 102.10 102.40 102.80
AUD/USD: Current price: 0.9738
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The AUD/USD also corrected higher, reaching 0.9777 before stalling. In the hourly chat, price stands above 20 SMA while indicators turn lower near overbought levels, showing not much aims to continue advancing ahead of Asian opening. In the 4 hours chart, price retraces from its 20 SMA still acting as strong resistance now around 0.9770, while indicators head strongly north approaching their midlines. Still too early to call for a bottom, price may extend its upward corrective movement up to 0.9840 without actually affecting the bearish trend. Steady gains above this last however, should signal a stronger recovery, with parity then at sight.
Support levels: 9.9700 0.9660 0.9620
Resistance levels: 0.9770 0.9800 0.9840
EUR/USD: Dollar corrects lower, no reversal yet
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