EUR/USD Current price: 1.2872


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Not a good day for EUR: the common currency hit its lowest level in over a month against the greenback, testing 1.2841 on the back of disappointing GDP readings in France, Germany and the EU itself: he euro zone’s economy contracted for the sixth straight quarter at marking its longest recession of the last 20 years. The fall in the pair however stalled after US also disappointing data on the manufacturing and industrial sectors: hopes QE will end this year diminished, and stocks rushed again, to fresh record highs.


Ahead of the Asian opening, the hourly chart shows price hovering below the 1.2880 mark, with 20 SMA heading lower currently around 1.2890, while indicators hold below their midlines, giving no signs later bounce may extend higher. In the 4 hours chart, technical readings maintain s a strong bearish momentum, supporting the shorter term view, with market now eyeing 1.2744, this year low.



Support levels: 1.2840 1.2790 1.2745



Resistance levels: 1.2885 1.2920 1.2970 



EUR/JPY Current price: 131.79


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The EUR/JPY approached 131.00 level, mounted on negative US data feeding JPY demand, and leaving price now below its 100 SMA in the hourly chart, and a general bearish tone coming from technical readings that hold in negative territory. Stocks fresh highs however limited yen gains, with the pair aiming higher, although unless a clear recovery above 132.00, the upside will remain limited. In bigger time frames a slightly negative tone is seen, with indicators heading lower around their midlines. 



Support levels: 131.10 130.70 130.20



Resistance levels: 132.00 132.40 132.90 



GBP/USD Current price: 1.5217


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GBP got support over European hours, as the labor market showed better than expected readings, and in the inflation report, BOE’s governor King stated growth is somehow stronger while inflation is lower than 3 months ago. The GBP/USD did fine, rising up to 1.5271, but when the possibility of negative rates made it to the table, the pair shred its gains. Price is stuck around 1.5210/20, 50% retracement of its latest bullish run, unable to define a clear short term trend; hourly indicators are pretty neutral, although favoring the downside at the time being. In the 4 hours chart the pair holds a strong bearish tone, with 1.5125, 61.8% retracement of the same rally as next possible bearish target.



Support levels: 1.5200 1.5160 1.5125



Resistance levels: 1.5270 1.5310 1.5340



USD/JPY Current price: 102.33


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Not many changes in USD/JPY, that quickly recovered after testing 101.80 area on US data. The hourly chart shows technical readings flat above their midlines, and price above 100 SMA that advance further, currently around 101.85 offering support in case of retracements. However, the upward tone is still undeniable in bigger time frames, and dips continue to be seen as buying opportunities towards 103.60 this week bullish target.



Support levels: 102.00 101.50 101.25 



Resistance levels: 102.40 102.90 103.30



AUD/USD: Current price: 0.9876


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The AUD/USD was unable to establish above the 0.9900 mark during US trading hours, and holds near its daily low of 0.9851. The hourly chart shows technical indicators shrug off extreme oversold readings, although price remain in steady consolidation mode. In the 4 hours chart the pair maintains the bearish bias, all of which continues to expose the downside: a break below 0.9850 should trigger the continuation, looking for 0.9790 today.



Support levels: 0.9850 0.9820 0.9790



Resistance levels: 0.9900 0.9950 1.0000 









































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