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EUR/USD Current price: 1.3823

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Back and forth, the EUR/USD tested its weekly low of 1.3748 on ECB’s Draghi words, as the Central Bank leader hit the wires, mostly repeating what he said a couple weeks ago, regarding tools available if needed (read, negative rates and/or quantitative easing) but overall exhibiting his usual confidence in the future. Early menace from Weidmann was quickly overpowered, with the pair bouncing back towards its daily high of 1.3846.

Slightly lower in the day, the daily candle shows a long downside shadow, that reflects how buyers patiently wait to add to their positions. As for the short term, the hourly chart looks pretty messy after these last 2 days wide moves, but the 4 hours chart maintains a pretty positive tone, as price holds above its 20 SMA that slowly turns north, while indicators show some timid bounce from their midlines: a price acceleration above 1.3875 this week high is required to confirm a new leg higher, eyeing 1.3960 price zone.

Support levels: 1.3825 1.3780 1.3750 

Resistance levels: 1.3875 1.3910 1.3960

EUR/JPY Current price: 141.38

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Intraday unchanged, the EUR/JPY recovered the ground lost during European hours, maintaining a pretty neutral stance in the hourly chart, as price moves back and forth around 100 and 200 SMAs, both converging around 141.25, and indicators back around their midlines. The 4 hours chart is even less clear, with the pair ranging for almost 2 weeks already and no clear directional signs. Overall, 142.00 remains as the key resistance level to overcome to see some upward potential, while below 140.40 the pair becomes exposed to a bearish run.

Support levels: 141.20 140.80 140

Resistance levels: 141.60 142.00 142.50

GBP/USD Current price: 1.6527

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The GBP/USD found some support in early UK data, with inflation steady and improved house readings helping the pair recover the 1.6500 mark. The hourly chart shows a mild bullish tone, with 20 SMA gaining bullish slope below current price and indicators heading higher above their midlines, all of which supports an upward continuation. The bounce from the 61.8% retracement of its latest bullish run however is still shallow, and an advance beyond 1.6565 strong static resistance area, is required to confirm a new leg higher. In the 4 hours chart a slightly positive tone is also present, supporting the shorter term view. 

Support levels: 1.6520 1.6470 1.6425 

Resistance levels: 1.6565 1.6600 1.6640

USD/JPY Current price: 102.28

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The USD/JPY continues giving nothing to traders, confined to the 102.00/102.60 area since past Thursday. Over the last hours the pair lost the mild bullish potential seen on previous update, as per trading now below its 100 SMA and with indicators turning lower around their midlines, yet unless a break above 102.50/60 or below 101.85 Fibonacci support the pair will remain directionless.

Support levels: 102.10 101.85 101.30 

Resistance levels: 102.60 102.90 103.40

AUD/USD Current price: 0.9164

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Slowly but steadily, the AUD/USD continues grinding higher, reaching today a fresh high of 0.9172 and holding nearby ahead of Asian opening. Short term, the pair maintains the bullish tone seen on previous updates, as the hourly chart shows indicators heading north in positive territory, and 20 SMA offering intraday support on retracements. In the 4 hours chart momentum losses some strength yet holds in positive territory, while the rest of the technical readings support a continued advance, eyeing now key midterm resistance around 0.9250.

Support levels: 0.9110 0.9085 0.9050 

Resistance levels: 0.9170 0.9210 0.9250

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Are you really thinking on buying the USD?