EUR/USD Current price: 1.3483


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Things did not got better over the weekend, with emerging market’s crisis still taking the center stage and fueling demand for safe havens. This upcoming week, won’t lack entertainment either from major economies, as several Central Banks will take their economic policy decision. As for Europe, ECB president Mario Draghi stated past that he was ready to ease monetary policy if inflation ended lower than expected, which it did. 


The EUR/USD trades a few pips above its lowest level of the year, posted on Friday at 1.3478, maintaining the bearish tone in the short term as the hourly chart shows price well below a bearish 20 SMA that contained the upside over the past few days, while indicators head lower in negative territory. In the 4 hours chart technical readings stand in oversold territory, albeit far from suggesting an upward correction: the pair is still exposed to a test of the 1.3440 strong midterm support, while a break below it will bring back to the table 1.3280 for this week. 


Support levels: 1.3470 1.3440 1.3400


Resistance levels: 1.3520 1.3550 1.3590 



EUR/JPY Current price: 137.69


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The EUR/JPY sees not much relieve with the opening, posting a lower low for the year on 137.46. The bearish momentum seen on Friday remains intact, as the hourly chart shows moving averages gaining bearish slope well above current price and indicators heading lower in negative territory. The 4 hours chart shows the bearish momentum has accelerated, with not much strong support on the way to 135.50 areas, past October highs. 


Support levels: 137.40 136.80 136.10 


Resistance levels: 138.35 139.10 139.70



GBP/USD Current price: 1.6427


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Pound gaped to the downside against the greenback, also under bears’ control. The hourly chart presents a clear downward tone as price remains capped below 20 SMA, now around 1.6460, as indicators head south below their midlines, albeit showing not much strength at the time being. In the 4 hours chart current candle stands below 200 EMA while 20 SMA heads strongly south above current price and indicators accelerate lower below their midlines, suggesting further falls ahead.  


Support levels: 1.6420 1.6370 1.6335


Resistance levels: 1.6490 1.6520 1.6550 



USD/JPY Current price: 102.13


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Still holding above 102.00, the USD/JPY consolidates around its lows, trading now below 100 and 200 SMAs in the hourly chart, and with indicators heading lower after failing around their midlines, which suggest selling interest is still strong. In the 4 hours chart, technical readings head higher below their midlines, although showing no actual strength, while moving averages stand well above current price. Overall, the bearish trend prevails as long as risk aversion remains high: Chinese non manufacturing PMI  will be key in current Asian session, as a reading below expected should feed the negative sentiment and support yen gains against most rivals.


Support levels: 101.75 101.40 101.10


Resistance levels: 102.40 102.75 103.10



AUD/USD Current price: 0.8760


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Aussie trades higher against the greenback, on market talks RBA governor Stevens will remove its bias towards lower rates while keeping rates on hold in this week economic meeting. A pretty discouraging manufacturing reading however, keeps the upside limited for now. Technically the hourly chart shows price above a bearish 20 SMA and indicators aiming higher around their midlines, suggesting further upside ahead if price manages to extend above 0.8770/80 area, immediate resistance. In the 4 hours chart technical readings stand in neutral territory, also aiming higher: a retest of 0.8820 seems likely if Chinese data results positive, yet if not the pair will likely ease further towards 0.8690 price zone.


Support levels: 0.8730 0.8690 0.8660 


Resistance levels: 0.8775 0.8820 0.8860
















































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