View Live Chart for the EUR/USD
The event of the day was a non-event, as market barely reacted to what FED offered, holding firm to stimulus despite an optimistic economic outlook. The EUR/USD extend its recovery up to 1.2977, again stalling at the strong static resistance level, before turning back lower. The hourly chart shows indicators losing upward momentum still in positive territory, with price above a bullish 20 SMA, currently around 1.2920. In the 4 hours chart, technical readings continue to support the downside, favored once price falls below 1.2910 immediate support. Market will likely keep waiting a clearer picture coming from Cyprus before deciding about the pair.
Support levels: 1.2910 1.2880 1.2840
Resistance levels: 1.2970 1.3000 1.3030
View Live Chart for the EUR/JPY (select the currency)
The EUR/JPY advanced on yen weakness, holding near the 124.40 area early Asia. The hourly chart shows price above 100 SMA yet struggling with 200 one, while indicators hold in positive territory. Steady gains above mentioned 124.40 area should signal an upward continuation, favored also by bigger time frames which also maintain a bullish technical tone. The positive tone however, may hesitate if price extends beyond 125.00, and the advance will probably slowdown, as the Euro remains weak.
Support levels: 124.00 123.60 123.20
Resistance levels: 124.40 124.85 125.30
View Live Chart for the AUD/USD (select the currency)
The AUD/USD remains steady in its 60 pips weekly range, having failed again to break above the 1.0410 static resistance level, and therefore gaining some bearish potential. The hourly chart shows price below its 20 SMA and indicators nearing their midlines, while the 4 hours chart technical readings also turn lower, yet still in neutral territory. While bulls still have control of the pair, there’s little to do unless price starts to move. Support around 1.0300/30 is key as if below, buying interest will start to fade.
Support levels: 1.0360 1.0330 1.0300
Resistance levels: 1.0410 1.0440 1.0490
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