View Live Chart for the EUR/USD
A slow start of the week, with majors ranging most of the day, is seeing a strong dollar selloff late US session, as stocks shed part of its daily gains. Expectations over the FOMC meeting later this week, are keeping investors on their toes and rumors hitting the wires will be the main market movers these days. The EUR/USD hourly chart shows indicators heading north in positive territory, as price moves away from a flat 20 SMA. In the 4 hours chart technical readings also gain positive momentum after latest advance, having been flat around their midlines. Regardless this latest advance, dominant trend is bullish and the upside remains favored, as long as price finds buyers on dips down to 1.3240.
Support levels: 1.3350 1.3310 1.3270
Resistance levels: 1.3400 1.3440 1.3480
View Live Chart for the EUR/JPY
The EUR/JPY found sellers around the 127.00 level, former support and now strong resistance, where the hourly 100 SMA stands now. While indicators stands flat above their midlines, moving averages continue heading lower above current price and distance in between both, 100 and 200 SMA’s widening, which keeps the pressure to the downside. With US stocks giving away most of their intraday gains ahead of the close, there’s also little support for some yen losses, with a retest of 125.00 expected for upcoming Asian session if local share markets turn red.
Support levels: 126.20 125.70 125.20
Resistance levels: 126.60 127.00 127.50
View Live Chart for the GBP/USD
The GBP/USD managed to extend its gains up to 1.5750 today, fresh 4 months high, surging back towards its daily high after being as low as 1.5680 today. The hourly chart shows indicators heading higher in positive territory with price now above 20 SMA, while in the 4 chart technical indicators maintain a neutral stance, although price bounced from a still bullish 20 SMA. The pair maintains a strong positive bias, with a break above 1.5770 probably triggering stops and seeing a strong price acceleration.
Support levels: 1.5680 1.5650 1.5610
Resistance levels: 1.5770 1.5815 1.5850
View Live Chart for the USD/JPY
The USD/JPY also accelerates lower, retracing from its 100 SMA in the hourly chart and with indicators breaking below their midlines, pointing for another move lower in the upcoming Asian session. In bigger time frames, technical indicators present a neutral stance, although the downside is favored back towards 93.70 key support as per being the 38.2% retracement of these last months’ bullish run.
Support levels: 94.20 93.70 93.30
Resistance levels: 95.00 95.35 95.70
View Live Chart for the AUD/USD
Australian dollar has been under pressure for most of the day, falling as low as 0.9526 against the greenback, before partially recovering ground. Ahead of RBA Minutes, the hourly chart shows price still below its 20 SMA, while indicators head higher in negative territory, which suggests latest movement is barely corrective. In the 4 hours chart technical readings maintain a negative tone, with price below 20 SMA and indicators heading south, approaching their midlines. As long as below 0.9600 the downside is favored, with a break below 0.9520 pointing for the return of the bearish trend.
Support levels: 0.9520 0.9480 0.9440
Resistance levels: 0.9610 0.9660 0.9700
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