The EUR/USD losses some ground this Friday, American session with the dollar advancing across the board on better than expected fundamental data. Nearing the 1.2300 area at the time being, the pair has erased most of yesterday’s gains, holding a bearish tone ahead of weekly close according to the hourly chart: indicators head south below their midlines, and price broke back below 20 SMA that turned bearish now around 1.2350. In the 4 hours chart, the pair remains range bound, struggling around flat moving averages and with indicators in neutral territory. Expect consolidative stage to extend over the upcoming week.
Support levels: 12300 1.2300 1.2270
Resistance levels: 1.2330 1.2350 1.2385
The GBP/USD trades slightly lower today, after topping at 1.5743 past Thursday; while the overall upward pressure remains intact, the pair has turned short term bearish as seen in the hourly chart, with momentum heading south below 100 and 20 SMA capping now the upside around 1.5715. Daily low stands around 1.5680 providing immediate support in case of more slides while a daily ascendant trend line around 1.5640 is next. In the 4 hours chart price is aiming to break below its 20 SMA with current candle, although indicators hold in positive territory, helping keep the downside limited.
Support levels: 1.5680 1.5640 1.5610
Resistance levels: 1.5715 1.5740 1.5770
The steady advance of the USD/JPY continues with the price posting fresh highs on dollar demand. The technical picture continues to be bullish, with the hourly chart showing 20 SMA heading north and leading the way, acting as dynamic support now around 79.30, while indicators head higher in positive territory. In the 4 hours chart the upward momentum is also strong with more gains expected as long as above mentioned support towards the 80.00 level.
Support levels: 79.30 79.10 78.80
Resistance levels: 79.75 80.00 80.30
Australian dollar continues heavy against most rivals, falling to a new monthly low of 1.0410 so far, and with a strong bearish tone according to the hourly chart, where indicators reach extreme oversold readings. Without signs of reversing course, bids are reported around the 1.0400/10 price zone; if the level is taken, the slide may easily accelerate towards 1.0360, which is the 61.8% retracement of this year fall. The bearish tone is also strong in the 4 hours chart, with a daily close below the 1.0435 mark completing a rounded roof reversal figure.
Support levels: 1.0400 1.0360 1.0320
Resistance levels: 1.0435 1.0470 1.0500
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