EUR/USD Current price: 1.3746
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The EUR/USD edges lower this Tuesday, with the pair back and forth during US session albeit nervous investments. The pair spent most of the day under pressure, mostly due to some covering ahead of FED decision tomorrow, yet ECB’s Nowotny words, regarding future actions of the Central Bank, trigger a strong demand of euro, sending the pair back towards 1.3805 area: the official said the bank is not considering to cut refi or depo rates, neither has the tools to fight a strong currency. The rally however, was short lived and price retraced its gains on quick profit taking, ending pretty much where it was before the statement.
As for the technical picture, the pair stands right above 1.3735 daily low, maintaining the short term negative tone, with price below its 20 SMA and indicators in negative territory. Nevertheless, more buyers await around 1.3710 in case of further dips, leaving the bullish dominant trend pretty much intact. A break below 1.3650 during this Wednesday however, could signal a deeper correction down to 1.3460 before a new leg up surges.
Support levels: 1.3740 1.3710 1.3670
Resistance levels: 1.3780 1.3810 1.3835
EUR/JPY Current price: 134.88
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The EUR/JPY advanced up to 135.15 posting a higher high daily basis, although barely positive intraday. In the hourly chart, technical indicators look a bit exhausted to the upside, suggesting some downward potential ahead in the short term. Moving averages in the mentioned time frame stand below current price, with 100 one offering short term support around 134.40 today. In bigger time frames technical readings stand in positive territory, which for now should keep slides limited.
Support levels: 134.50 133.90 133.55
Resistance levels: 135.15 135.50 136.00
GBP/USD Current price: 1.6036
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The GBP/USD remains under strong pressure since past Asian opening, trading barely above its’ daily low of 1.6021. The hourly chart shows indicators in oversold territory, aiming slightly higher despite price is unable to run higher; 20 SMA maintains a strong bearish slope above current price, favoring further falls. In the 4 hours chart the bearish tone remains strong, with the pair vulnerable to extend its fall down to 1.5970 strong static support area.
Support levels: 1.6015 1.5970 1.5935
Resistance levels: 1.6060 1.6090 1.6120
USD/JPY Current price: 98.15
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The USD/JPY held to its recent strength, extending to a fresh 4 day high of 98.27 before stalling, right below its 100 DMA. The hourly chart shows price extended above its moving averages, that slowly turn north losing the downward potential, while indicators turn south in overbought levels. In the 4 hours chart however, the bullish tone is still strong, although a break above mentioned 98.40 100 DMA is required to confirm further advances. Short term corrections should be limited to 97.40 to keep current bullish tone intact.
Support levels: 97.90 97.40 97.00
Resistance levels: 98.40 98.80 99.10
AUD/USD Current price: 0.9475
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The AUD/USD fell further this Tuesday, breaking below the 38.2% retracement of its latest daily bearish run from 1.0508 to 0.8846, exposing the pair to further midterm falls. Latest daily bullish leg from mentioned 0.8844 to 0.9755 stalled around the 50% retracement of the same rally where the pair seems to have established an interim top. As for the short term, the pair holds a strong bearish tone, with 20 SMA offering dynamic resistance now around 0.9500 and indicators resuming the downside after a limited correction, while the 4 hours chart shows indicators still heading south in negative territory. 0.9450 stands as immediate support and once below, there’s little in the way down to 0.9380 for today.
Support levels: 0.9450 0.9420 0.9380
Resistance levels: 0.9500 0.9540 0.9590
EUR/USD: Coverage continued through Tuesday
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