Dollar advanced steadily this Tuesday, as better than expected US data, along with more EU jitters sent investors to safe haven greenback. European bond spread yields jumped again to record highs with Spain and Italy at top. The EUR/USD fell as low as 1.3496 before bouncing slightly higher, yet remains limited below the 61.8% retracement of the 1.3145/1.4246 rally, around 1.3665 and immediate resistance zone. Hourly chart shows price below a strongly bearish 20 SMA while indicators remain flat below their midlines, while 4 hours chart is also bearish supporting more slides in the EUR/USD.
Support levels: 1.3520 1.3480 1.3450
Resistance levels: 1.3565 1.3590 1.3636
Pound was also hit by the run to safety, with GBP/USD pointing a 4 week low at 1.5809, entering the Asian session barely above it. Hourly chart shows indicators exhausted to the downside and aiming higher still quite below their midlines yet price is not able to follow. The 4 hours chart shows a strong bearish tone as momentum is vertical heading lower, pushing the pair towards ket 1.5730/70 price zone.
Support levels: 1.5810 1.5770 1.5730
Resistance levels: 1.5850 1.5890 1.5930
Mostly unchanged since last updates, the USD/JPY continues consolidating in a tight range, and limited below the 77.10 immediate Fibonacci resistance. Hourly chart shows momentum around the 100 level while price floats around a flat 20 SMA, giving no clear clues for the upcoming hours. However, BOJ monetary policy decision in current session may push the pair higher if they decide more intervention, yet they can also disappoint markets by taking no action which should lead to a test of the 76.50 support zone.
Support levels: 76.80 76.50 76.25
Resistance levels: 77.20 77.50 77.90
Investors seem determinate to test parity in the AUD/USD, as the pair again closed to the downside. The hourly chart, shows price above a bearish 20 SMA while indicators are slowly heading south around their midlines, too early to confirm a bearish continuation rally in the short term. With US stocks closing almost unchanged and off daily lows, a recovery in market sentiment may also favor a recovery in the pair, yet the market remains in selling mode. Approaches to 1.0270, 200 EMA in the 4 hours chart, will probably be seen as selling opportunities.
Support levels: 1.0130 1.0075 1.0040
Resistance levels: 1.0220 1.0270 1.0310
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