EUR/USD Current price: 1.3756
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The EUR/USD remains steady in range albeit trading in positive territory this Tuesday, still capped below the 1.3770 price zone, immediate short term resistance. The hourly chart shows price above a bullish 20 SMA and indicators in positive territory, while the 4 hours chart offers the same picture, positive but weak. Early data failed to trigger a bullish rally and stocks trade in red, which helps keeping investors in cautious mode. If something, consumer confidence in the US can trigger some action on this American session, albeit won’t be expecting much for these last days of the month.
Support levels: 1.3720 1.3680 1.3650
Resistance levels: 1.3770 1.3820 1.3850
GBP/USD Current price: 1.6704
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The GBP/USD surged to a fresh 2-day high of 1.6716, accelerating higher after BOE’s member McCafferty stated that the Central Bank would consider slightly earlier a rate rise if inflationary pressures are bigger than expected. The pair broke above the 23.6% of its latest bullish run, and holds above it, with the hourly chart showing the level now offering short term support around 1.6690, and indicators heading higher in positive territory, supporting more gains for today. In the 4 hours chart technical readings also present a bullish tone, with the market now eyeing a retest and a break of 1.6745 static resistance level.
Support levels: 1.6685 1.6640 1.6590
Resistance levels: 1.6745 1.6790 1.6820
USD/JPY Current price: 102.31
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The USD/JPY eased some, approaching its 200 SMA in the hourly chart around 102.15 which contained the downside on Monday. The same time frame shows an increasing bearish potential as price stands now below 100 SMA and momentum heads lower in negative territory, while in the 4 hours chart a slightly positive tone prevails. Nevertheless, price needs to establish above 102.80 to be able to continue advancing, still pretty unlikely, while a break below mentioned 102.15 lows should lead to a test of the 101.70 price zone.
Support levels: 102.15 101.70 101.35
Resistance levels: 102.80 103.20 103.60
AUD/USD Current price: 0.9031
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Aussie lost some of its shine on Yuan 0.4% drop past Asian session, still trading above the 0.9000 level against the greenback. The AUD/USD hourly chart shows indicators turned flat around their midlines losing yesterday’s upward momentum, while the 4 hours chart shows price holds above a bullish 20 SMA while indicators hold in positive territory. The pair found buyers in the 0.9000 key level, and unless a clear acceleration below it, there’s little room for bears today.
Support levels: 0.9020 0.8980 0.8935
Resistance levels: 0.9060 0.9100 0.9150
EUR/USD: cautious, boring mode
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