Market exhausted most of its energy yesterday, as Friday sees majors trading in quite limited ranges with almost no volatility during the European session. The EUR/USD trades around the 23.6% retracement of yesterdays’ bullish run at 1.4160 capped in the hourly chart by a flat 20 SMA. Momentum indicator is flat below the 100 level, while RSI also turned flat just above 50. Stocks are lower today posting limited losses, helping keep the upside limited.
Support levels: 1.4150 1.4110 1.4070
Resistance levels: 1.4185 1.4210 1.4250
The GBP/USD has been finding support in the 20 SMA in the hourly chart, yet unable also to leave the 1.6100 area, holding a slightly bearish tone in the hourly chart as indicators head south just above their midlines. 4 hours chart shows indicators mostly in flat, lacking definitions as the pair trades in between 1.6070 and 1.6125 this Friday. Break of any of both extremes, could trigger some movements over upcoming US session
Support levels: 1.6070 1.6040 1.6000
Resistance levels: 1.6125 1.6160 1.6190
Trading near record lows, the USD/JPY bearish momentum remains pretty much intact: hourly chart shows indicators bellow their midlines while 20 SMA caps the upside around 75.90 price zone, immediate resistance level. 4 hours chart shows price has remained capped by a strongly bearish 20 SMA around the same level, keeping pressure to the downside in the pair.
Support levels: 75.70 75.45 75.00
Resistance levels: 75.90 76.20 76.50
The USD/CHF has managed to post a limited bullish corrective movement from yesterday’s low around 0.8570, although the upside remains pretty much limited according to the hourly chart. Price is capped by 0.8645 static resistance zone, while indicators are losing momentum above their midlines. Finding support in 20 SMA around 0.8600, lose of this last may lead to further falls today.
Support levels: 0.8600 0.8570 0.8540
Resistance levels: 0.8645 0.8680 0.8710
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