EUR/USD Current price: 1.2855


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Yes, but no. The fact is that both, Bernanke in its testimony and the FED in its Minutes, sent a pretty mixed message to investors this Wednesday, in regards and when and if QE will come to an end. Some members of the committee were willing to tap the bond-buying program as soon as June if the economic recovery becomes sustainable, while “many” required more progress before even considering it. What’s clear is that there is much more dissent among FED members and market players saw it: stocks and commodities dive in a sea of red during US hours, after the initial run in indexes to fresh record highs. 



The EUR/USD reached 1.2997 after Bernanke started its testimony with a dovish tone, only to sink to a daily low of 1.2832 before facing buying interest. The hourly chart shows price consolidating right above the level, with indicators aiming to correct extreme oversold readings and 20 SMA heading south above current price. In the 4 hours chart a stronger bearish tone is developing, although 1.2800/40 area continues to attract buyers, and only a clear acceleration below these last will point for  a stronger downward move.



Support levels: 1.2840 1.2810 1.2770



Resistance levels: 1.2885 1.2925 1.2950 



EUR/JPY Current price: 132.27


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The EUR/JPY rose up to 133.80 following stocks upward momentum, only to retrace back over 150 pips towards its daily opening. Indeed, the daily candle points for a probable reversal and an interim top, although needs yet further confirmation. As for the short term, the hourly chart shows a strong bearish momentum coming from technical readings, but price finding support in the convergence of 100 and 200 SMAs around 132.00. An acceleration below moving averages, should be the first signal of further slides, with 131.50 area then at sight. 



Support levels: 132.00 131.50 131.10 



Resistance levels: 132.40 132.90 133.50



GBP/USD Current price: 1.5048


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The GBP/USD maintained the bearish bias after BOE’s Minutes pointed for a possible assets purchase program extension up to £400B. Trading right below 1.5050, the hourly chart shows 20 SMA with a strong bearish slope above current price, and indicators flat in oversold territory, signaling not much aims to correct higher at the time being. In the 4 hours chart technical readings maintain a strong bearish momentum, pointing for a test of the 78.6% retracement of its latest bullish run at 1.4990. If this last gives up, there’s not much in the middle until 1.4830, March low. Recoveries are still seen as selling opportunities with 1.5130 as main resistance to watch. 



Support levels: 1.5020 1.4990 1.4945



Resistance levels: 1.5070 1.5100 1.5130



USD/JPY Current price: 102.97


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The USD/JPY surged to another multi years high, this time at 103.72, finding as expected strong resistance in the 103.60 area. Strong risk aversion mid American afternoon sent price lower, but the hourly chart shows indicators still above their midlines and price regaining some ground above 100 SMA. While the EUR/JPY may have a hard time to continue rising, the picture for USD/JPY has not yet changed: the dominant trend remains bullish and buyers will reappear on dips. However, if local share markets follow their overseas partners, risk this Thursday remains to the downside, with 101.25 as main support and ultimate buying level. A daily close below this last, should point for a stronger bearish movement, eyeing then 99.70 price zone.



Support levels: 102.90 102.40 102.10 



Resistance levels 103.20 103.60 104.00



AUD/USD: Current price: 0.9696


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The AUD/USD reached 0.9661 key midterm support, consolidating now below 0.9700 and maintaining a negative stance in the short term, as indicators had barely corrected extreme oversold readings before turning flat, while 20 SMA gains bearish slope above current price. In the 4 hours chart technical readings are also strongly bearish, while a break below 09650/60 area is now required to confirm a midterm continuation in the pair. 



Support levels: 0.9660 0.9620 0.9580



Resistance levels: 0.9710 0.9750 0.9790 















































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