View Live Chart for the EUR/USD
The EUR/USD continued its routine of moving up and down with not much behind the movements but market players standing extremely nervous on any single headline. Having started the day looking to recover the ground lost on Wednesday, the EUR/USD was unable to advance beyond 1.3100, and closed the day barely positive. Stuck around the 1.3050 level, the hourly chart shows price below 20 SMA as indicators lay around their midlines, giving not much clues on short term direction. In the 4 hours chart bias remains bearish, as 20 SMA capped the upside at mentioned 1.3100 area, while indicators head south below their midlines. Still a break below 1.3010 is required to confirm the bearish movement that may finally put bulls in rest mode.
Support levels: 1.3040 1.3010 1.2970
Resistance levels: 1.3070 1.3100 1.3140
View Live Chart for the EUR/JPY (select the currency)
The EUR/JPY also lacks direction in the short term with Asian opening, as price hovers around 100 SMA in the hourly chart while indicators turned horizontal, resting on their midlines. Recoveries are still shy, and a daily descendant trend line, currently around 129.20, stands in the way for an upward continuation. Considering the fact that stocks closed in red all around the globe today, there’s a big chance local share markets will follow, exposing the pair to a slide: below 127.60, market will be looking for 126.40 area, while a weekly close below this last will increase chances of a test of 125.50 early next week.
Support levels: 127.60 127.10 126.40
Resistance levels: 129.20 129.50 130.15
View Live Chart for the AUD/USD (select the currency)
The AUD/USD failed to advance above 1.0335, but maintained a pretty fair range despite stocks’ strong slide, holding above the 1.0280 level. However, the favored bias continues to be to the downside as the 4 hours chart shows 20 SMA still heading strongly south, currently converging with mentioned static resistance area, while momentum retraces from the 100 level and heads south into negative territory. The 1.0280 area comes as immediate support but a stronger one is located a few pips below, around 1.0260: the pair presents several daily highs and lows around the area that the market can’t ignore. A break below this last however, will set the tone in the pair, with 1.0100 area then possible for next week.
Support levels: 1.0280 1.0260 1.0220
Resistance levels: 1.0335 1.0380 1.0410
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