EUR/USD: Risk turns to the downside

EUR/USD Current price: 1.3716

View Live Chart for the EUR/USD

The battle continues among EUR/USD traders, with the pair being hit early US morning on the back of increasing risk aversion: stocks and gold are down giving the greenback some air, while Fed’s Fisher hit the wires saying he is not expecting any pause in $10montlhy taper, favoring some mild dollar strength across the board. Technically, the EUR/USD has broke a short term ascendant trend line and even completed a pullback to it now around 1.3735 immediate resistance, while 20 SMA gains bearish slope above current price and indicators turn south in negative territory, supporting the negative tone. In the 4 hours chart technical readings gain bearish potential albeit still neutral: key support stands around 1.3680, and if broken, the bearish momentum should accelerate over the upcoming sessions.

Support levels: 1.3680 1.3650 1.3615

Resistance levels: 1.3735 1.3770 1.3820 

GBP/USD Current price: 1.6676

View Live Chart for the GBP/USD

The GBP/USD stands unchanged from previous updates, hovering around the 23.6% retracement of its latest bullish run around 1.6690. The hourly chart maintains a neutral stance, with indicators flat as well as moving averages, while the 4 hours chart shows a pretty similar picture, giving not much tips on upcoming direction. If something, dips will likely found buyers near 1.6600, 38.2% retracement of the same rally. 

Support levels:  1.6640 1.6590 1.6550

Resistance levels: 1.6690 1.6745 1.6790 

USD/JPY Current price: 102.26

View Live Chart for the USD/JPY

The USD/JPY recovered some ground albeit remained capped by its 100 SMA in the hourly chart around 102.40. Indicators in the mentioned time frame head higher in positive territory, but unless a recovery above mentioned resistance, the upside will remain limited, and even then, the pair may face selling interest at the top of these last days range of 102.80.

Support levels: 102.00 101.70 101.35 

Resistance levels: 102.40 102.80 103.20

AUD/USD Current price: 0.8969

View Live Chart for the AUD/USD

Australian dollar eases against its rivals, with the AUD/USD reaching so far 0.8963 amid risk sentiment. The hourly chart shows 20 SMA gaining a strong bearish slope above current price, while indicators accelerated lower below their midlines, supporting current slide. In the 4 hours chart technical readings also present a bearish tone, albeit still in neutral territory and lacking strength, suggesting the bearish run should not be taken for granted: recent lows around 0.8935 are the key support to follow, as once below the movement may gain momentum and extend towards 0.8880 price zone.

Support levels: 0.8960 0.8935 0.8880

Resistance levels: 0.8990 0.9020 0.9060 

Follow our EUR USD, GBP USD, USD JPY, USD CHF and USD CAD daily updates.

EUR/USD: Risk turns to the downside