EUR/USD: challenging the lows

EUR/USD Current price: 1.3651

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The EUR/USD remains under pressure this Thursday, after local PMI turned out mixed, unable to set a path for upcoming economic decisions. The hourly chart shows price below a mild bearish 20 SMA, while indicators head lower in negative territory, albeit lacking strength. In the 4 hours chart price is being capped by a bearish 20 SMA, while indicators are also directionless below their midlines. The pair has managed to bounce from the 1.3640/60 price zone, but risk of a break lower increased amid lower lows reached afterwards. Once below, next strong support stands at 1.3570 price zone.

Support levels:  1.3650 1.3610 1.3570

Resistance levels: 1.3690 1.3720 1.3745 

GBP/USD Current price: 1.6872

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The GBP/USD trades within range, capped by strong static resistance area around 1.6920, but finding short term support in the daily descendant trend line broken yesterday currently around 1.6870. The hourly chart shows price below a flat 20 SMA while indicators head lower below their midlines, holding above mentioned trend line. In the 4 hours chart indicators lose upward potential but hold in positive territory, while 20 SMA heads higher and offers short term support in the 1.6850 price zone. A break below it is what it takes to confirm a downward extension with 1.6820 as immediate short term support.

Support levels: 1.6850 1.6820 1.6790 

Resistance levels: 1.6920 1.6960 1.7000

USD/JPY Current price: 101.59

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USD/JPY extended up to 101.75 and holds nearby ahead of US opening, contained in the short term by 200 SMA in the hourly chart. Indicators in the same time hold in positive territory but stand flat, while the 4 hours chart shows technical readings losing former bullish strength but far from suggesting a downward move. Above mentioned daily high, the pair may attempt a test of the 102.00 figure, albeit further gains are not yet seen.

Support levels: 101.40 101.10 100.70 

Resistance levels: 101.75 102.00 102.35

AUD/USD Current price: 0.9240

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Australian dollar completed an upward corrective movement against the greenback, stalling at a huge Fibonacci level around 0.9270. The hourly chart shows price aiming to recover but still below its 20 SMA while indicators also attempt a recovery right below their midlines. In the 4 hours chart the outlook is bearish, with 20 SMA heading strongly down and offering strong intraday resistance now around 0.9260 and indicators aiming lower in negative territory.

Support levels: 0.9200 0.9170 0.9135

Resistance levels: 0.9260 0.9310 0.9350

EUR/USD: challenging the lows