EUR/USD Current price: 1.3672
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The EUR/USD finally gave up and fell down to 1.3660 in the middle of the US session, as stops got triggered on risk aversion and better than expected US housing data. If something, late recovery in stocks on strong earnings reports, prevented the pair from falling harder, but risk remains to the downside. The hourly chart shows indicators exhausted and turning higher still in oversold territory, while 20 SMA turned bearish well above current price. In the 4 hours chart the slide was contained by 200 EMA currently at mentioned daily low and immediate short term support. A short term upward correction may take place, up to 1.3730 area, yet bears remain in control, with a break lower pointing for an approach to 1.3600 price zone.
Support levels: 1.3650 1.3615 1.3580
Resistance levels: 1.3695 1.3730 1.3770
EUR/JPY Current price: 140.17
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The EUR/JPY felt the heat, sinking down to 139.67 albeit managing to recover the 140.00 level late US afternoon. Nevertheless, the hourly chart shows price now below 200 SMA and indicators just correcting oversold readings losing upwards strength in negative territory, which suggests risk remains to the downside. In the 4 hours chart technical readings gain bearish potential, and as long as below 140.40 further falls should be expected, with a break below 139.20 opening doors for a midterm bearish continuation.
Support levels: 139.80 139.20 138.70
Resistance levels: 140.40 140.85 141.20
GBP/USD Current price: 1.6645
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The GBP/USD eased on the back of dollar strength, ending the day in red although holding above key 1.6600 area, 38.2% retracement of its latest bullish run. In the hourly chart indicators are turning higher still in negative territory, while 20 SMA presents a bearish slope above current price, limiting advances. In the 4 hours chart a slightly negative tone prevails albeit technical readings remain overall neutral. This week low of 1.6582 is the level to watch to confirm a downward continuation, as buyers should had build their stops right below it.
Support levels: 1.6610 1.6580 1.6550
Resistance levels: 1.6690 1.6745 1.6790
USD/JPY Current price: 102.42
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The USD/JPY approached both extremes of its range in a quite choppy journey, trading in between 102.00 and 102.80 and finding the strength to recover above the key 102.40 mark. In the hourly chart price is now finding support around its 100 SMA while indicators stand in positive territory, showing not much strength at the time being. In the 4 hours chart a mild bullish tone prevails, although a break of the range is required to confirm next directional move.
Support levels: 102.00 101.70 101.35
Resistance levels: 102.80 103.20 103.50
AUD/USD Current price: 0.8969
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Aussie extended its suffering through the American session, falling down to 0.8942 a few pips above key lows gathered in the 0.8935 price zone. The hourly chart shows the strong bearish momentum remains intact despite indicators stand in oversold territory, while in the 4 hours chart technical readings present a slightly negative tone, holding around their midlines. In the same time frame, price is testing its 200 EMA, third time this month, a break below it should be a first signal of further bearish continuation, eyeing then the 0.8880 price zone.
Support levels: 0.8935 0.8880 0.8830
Resistance levels: 0.8990 0.9020 0.9060
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EUR/USD: Safe haven greenback takes the lead
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