EUR/USD Current price: 1.3516


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DJIA tumbled 1.7% and S&P over 2.0% this Monday, weighted by different factors, maybe the more remarkable, the ongoing crisis in emerging markets and the disappointing US PMI reading. The risk aversion environment prevent EUR/USD from gaining despite local PMIs were mostly up beating, taking some of the pressure off ECB for their upcoming meeting. Holding above 1.3500, the hourly chart shows a slightly positive tone as per indicators heading higher in positive territory and price above its 20 SMA, albeit sellers will likely surge on approaches to 1.3550 strong static resistance area. In the 4 hours chart indicators corrected extreme oversold readings, and head higher in negative territory, while 20 SMA maintains a strong bearish slope, offering dynamic resistance now around mentioned 1.3550. Failure to overcome this last should maintain the pressure to the downside, and favor a new leg lower towards 1.3440 support.


Support levels: 1.3470 1.3440 1.3400


Resistance levels: 1.3520 1.3550 1.3590 



EUR/JPY Current price: 136.73


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Yen advanced against its rivals, pushing EUR/JPY to fresh 3-month lows around 136.60, with the pair holding around the level ahead of Asian opening. The hourly chart shows price holding near its daily low while moving averages gain bearish tone above current price and indicators hold in negative territory, showing little aims of a recovery. In the 4 hours chart technical readings maintain a strong bearish tone, still supporting a test of key 135.50 price zone.


Support levels: 136.60 136.10 135.50


Resistance levels: 137.40 137.90 138.35



GBP/USD Current price: 1.6298


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The GBP stands among the weakest currencies today, having been under pressure since the day started, and accelerating its slide on weak local PMI. The GBP/USD breaches the 1.6300 mark with US session fading, in route to 1.6250 key midterm support. Technically the hourly chart shows indicators maintain a strong bearish momentum despite standing in oversold territory, supporting more slides ahead. In the 4 hours chart price continues moving away from the 200 EMA while RSI heads strongly south around 24 and momentum stands neutral near oversold readings, also supporting the shorter term view. 


Support levels: 1.6300 1.6250 1.6210


Resistance levels: 1.6370 1.6400 1.6430



USD/JPY Current price: 101.16


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The USD/JPY accelerated lower mid American morning, reaching 101.04 first time since mid November. The hourly chart shows the bearish momentum prevails, with indicators near oversold levels and moving averages gaining bearish tone above current price, while the 4 hours chart shows a strong negative tone that suggests a downward continuation eyeing now 100.60, past September monthly high. 


Support levels: 101.10 100.60 100.20


Resistance levels: 101.30 101.70 102.00



AUD/USD Current price: 0.8761


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0.8820 is still too much for AUD/USD as despite the positive tone the pair has for most of the day, the level again attracted sellers, sending price back down to past Asian opening levels. The hourly chart shows price below its 20 SMA and indicators heading lower near their midlines, while in the 4 hours chart technical readings stand flat, with price right at its 20 SMA and indicators around their midlines. The pair however, will depend more on fundamentals than technical studies this Tuesday, with the RBA presenting their monthly monetary policy decision. Early Sunday, markets talks pointed for a hawkish Stevens and a pause in rate cuts which if true, may give the pair some short term support. Still, steady gains above the 0.8820 level are required to deny the downward potential towards 0.8500.


Support levels: 0.8730 0.8690 0.8660


Resistance levels: 0.8775 0.8820 0.8860 
















































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