EUR/USD Current price: 1.3782
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What started as another dull Monday turned up to be a quite interesting day, with the EUR/USD recovering up to 1.3805 despite EU CPI YoY fell down to 0.5%, lowest level since 2009. The pair bounced strongly up from an initial slide to 1.3721 Fibonacci support, reflecting how strong buying interest remains. Over the weekend, different EU officers expressed their lack of concern on current economic situation, suggesting the area is actually in recovery despite numbers don’t reflect so. Anyway, the EUR/USD hourly chat shows price holding above former Fibonacci resistance of 1.3780, and price well above a slightly bullish 20 SMA; indicators hold in positive territory in the mentioned time frame, while the 4 hours chart shows a mild bullish potential: a break above the daily high, should lead to a continued advance up to 1.3830/50 price, albeit more gains seem unlikely at least for today.
Support levels: 1.3780 1.3750 1.3710
Resistance levels: 1.3805 1.3840 1.3875
GBP/USD Current price: 1.6641
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The GBP/USD holds to its latest gains, trading in a tight range and showing no aims to go anywhere in the short term: the hourly chart shows price hovering around its 20 SMA, while indicators stand flat in neutral territory. In the 4 hours chart the outlook is bullish, as per indicators regaining the upside after correcting overbought readings, and price standing well above a bullish 20 SMA, now offering short term support around 1.6600. As long as above this last, the upside is favored, with a break above 1.6660 high signaling a possible test of 1.6720 for the upcoming sessions.
Support levels: 1.6600 1.6550 1.6510
Resistance levels: 1.6660 1.6690 1.6720
USD/JPY Current price: 103.41
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The USD/JPY advanced strongly up through the 103.00 figure, trading at fresh 4 week highs above 103.40, on the back of rising stocks all over the world. The optimism among investors maintains the pair with a clear positive tone in the short term, as indicators head north in positive territory, and price extends its advance with US opening. In the 4 hours chart technical readings also present a positive momentum, supporting a retest of March high around 103.85
Support levels: 103.40 103.10 102.60
Resistance levels: 103.85 104.10 104.50
AUD/USD Current price: 0.9233
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The AUD/USD remains subdued compared to other high yielders, trading near its daily low and with a mild bearish tone according to the hourly chart, as per trading below its 20 SMA and with indicators heading lower below their midlines. In the 4 hours chart, technical indicators seem ready to cross their midlines to the downside, while price is also below its 20 SMA, first time in over a week. Nevertheless, the downside remains limited, with only a break below 0.9210 favoring an intraday bearish run.
Support levels: 0.9210 0.9170 0.9110
Resistance levels: 0.9260 0.9300 0.9345
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EUR/USD: bulls still in the drivers' seat
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