EUR/USD Current price: 1.3487


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Much is going on across the world, but little seems able to affect the EUR/USD, as the pair extends its tight consolidative ranges of 30 pips either side of the 1.3500 mark. Early Europe, news that the whole Italian PDL party they could step down if Berlusconi was expelled from the Senate, following his tax fraud conviction. In the US, GDP matched previous number of 2.5%, missing expectations of a review towards 2.7%, although unemployment claims stood at 305K. US turmoil regarding the debt ceiling and a possible technical default however, seems to be approaching a happy ending, as Republicans left the door open for a positive outcome of the debt ceiling debate, helping stocks recover some ground after five days of losses. 


Nevertheless, the EUR/USD enters Asian session presenting a slightly bearish technical stance in the hourly chart, as price develops below 20 SMA and indicators head south below their midlines. However, the weekly low of 1.3461 for now maintains the downside limited: price needs to actually accelerate below it to be exposed to a downward continuation over the upcoming hours.


Support levels: 1.3450 1.3415 1.3370


Resistance levels: 1.3530 1.3570 1.3615



EUR/JPY Current price: 133.31


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Yen crosses surged amid BOJ officers talking about tax cuts past Asian session, although retraced almost all its gains during the past American session. The EUR/JPY hourly chart shows distance price still trading around its 10 and 200 SMAs, and the distance in between both continues to shrink, reflecting the lack of the direction seen over the past few days. Despite the intraday spike near 134.00, the downside continues to be favored towards 132.60 support, while if below, the slide should become more steady.


Support levels: 133.10 132.60 132.10


Resistance levels: 133.50 133.90 134.40



GBP/USD Current price: 1.6039


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The GBP/USD recovers from a daily low of 1.5998 posted with the US opening, still looking weak in the hourly chart, as price develops below 20 SMA and indicators below their midlines. However, the retracement seems so far just corrective, with buyers still defending the 1.5970/1.6000 price zone. In the 4 hours chart technical readings are mostly neutral although in positive territory: renewed buying interest above 1.6060 should signal a higher high for this week. 


Support levels: 1.6020 1.5970 1.5920 


Resistance levels: 1.6060 1.6100 1.6140



USD/JPY Current price: 98.85


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The USD/JPY failed to advance beyond its 100 DMA, and retraces from a daily high of 99.12. The technical outlook remains undefined, as price remains trapped in the 98.40/99.00 range; the fact that price develops below the 100 DMA favors the downside, with scope to test 97.90, a daily ascendant trend line coming from 93.78.  


Support levels: 98.80 98.40 97.90 


Resistance levels: 99.05 99.35 99.70



AUD/USD Current price: 0.9350 


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Australian dollar recovery attempt against the greenback, failed around 0.9400, pushing price back below the daily descendant trend line coming from 0.9520 area. The hourly chart shows price also back below its 20 SMA, with indicators in negative territory and price barely 15 pips away from its weekly low of 0.9335, immediate support. In the 4 hours chart technical readings maintain the bearish tone seen on previous updates, favoring further slides for this Friday, with a break below mentioned level favoring a slide towards 0.9250 area, where the pair will finally close the weekly opening gap.


Support levels: 0.9335 0.9300 0.9250


Resistance levels: 0.9420 0.9450 0.9490 
















































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