EUR/USD Current price: 1.3796
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The EUR/USD advanced to a fresh 4 day high posted at 1.3815 ahead of US opening, albeit the lack of volume along with the uncertainty over upcoming ECB economic policy meeting, leaves the pair within these days’ range. The hourly chart shows a mild bullish tone, as per price standing above its 20 SMA and indicators heading higher in positive territory, yet as lately, sustain gains above 1.3800 seems not an easy task for the pair. In the 4 hours chart technical readings present also an upward tone, which more likely will help to keep the downside contained between 1.3750 and 1.3780 today.
Support levels: 1.3780 1.3750 1.3710
Resistance levels: 1.3815 1.3840 1.3875
GBP/USD Current price: 1.6636
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The GBP/USD declined during the European morning, weighted by a disappointing PMI reading in the UK below expected. The pair however, bounces form a daily low of 1.6634, with the hourly chart maintaining a clear bearish tone as per indicators heading lower below their midlines and 20 SMA turning south above current price. In the 4 hours chart, 20 SMA offered strong support with its bullish slope around mentioned daily low, while indicators diverge lower and approach their midlines. The slightly negative tone however may extend on a break below 1.6600 static Fibonacci support, as up to there the movement seems barely corrective.
Support levels: 1.6635 1.6600 1.6550
Resistance levels: 1.6690 1.6720 1.6770
USD/JPY Current price: 103.38
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The USD/JPY holds to its recent gains, trading near the high of 103.43 posted this week. The hourly chart shows moving averages gaining upward strength well below current price, while indicators turned lower still in positive territory, reflecting the lack of buying interest at current levels. In the 4 hours chart the technical picture is still bullish, and as long as price holds above the 103.00 figure, the pair may attempt to advance towards March high of 103.85.
Support levels: 103.10 102.60 102.20
Resistance levels: 103.40 103.85 104.10
AUD/USD Current price: 0.9235
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Australian dollar eases against the greenback, faltering again around 0.9300 during Asian hours. The RBA left its policy unchanged, but what was pretty surprising was that governor Stevens again expressed his concerns over a strong currency. The pair quickly fell, presenting a clear bearish tone in the hourly chart, yet holding above its weekly low. In the 4 hours chart there’s also a mild negative tone albeit seems a bit too early to call for a top and a reversal: price needs to ease below 0.9210 at least, to become triggering stops and fall further.
Support levels: 0.9210 0.9170 0.9130
Resistance levels: 0.9260 0.9300 0.9345
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EUR/USD: grinding higher
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