The EUR/USD slide extends today, with the pair reaching 1.3428 daily low early European morning still in red territory despite a bounce higher after the low, that reached the 1.3560 price zone. Hourly chart shows price below a still bearish 20 SMA, while indicators are also bearish as per holding below their midlines. In the 4 hours chart, indicators are aiming for a bullish correction from oversold readings. Bias however remains bearish for the pair and either another approach to 1.3560 or a break below 1.3425 will be understood by market players as selling opportunities.
Support levels: 1.3460 1.3425 1.3385
Resistance levels: 1.3510 1.3540 1.3580
The GBP/USD is being weighted lower by worse than expected UK employment data, along with a dovish inflation report. The pair holds a bearish tone, although indicators in the hourly chart lost recent bearish momentum and turned flat as price consolidates near 1.5744 daily low. The 4 hours chart shows that despite indicators are exhausted to the downside, selling pressure remains strong as per the long upper shadows in the last 2 candles.
Support levels: 1.5740 1.5710 1.5660
Resistance levels: 1.5815 1.5850 1.5890
Not much change in the USD/JPY as the pair trades in a limited range holding the bearish tone seen over the past few days. The hourly chart shows momentum heading south below its midline and 20 SMA capping the upside yet flat, while in bigger time frames the lack of definitions persist as per the mentioned limited daily range.
Support levels: 76.80 76.50 76.20
Resistance levels: 77.10 77.45 77.70
The USD/CHF has reached the 0.9222 level before giving up some ground, holding the bullish tone in the hourly chart yet losing momentum. A corrective bearish movement could start if price breaks clearly below 20 SMA in the hourly chart, opening a candle below 0.9150 immediate support zone. In bigger time frames indicators are coming back from extreme overbought readings, supporting a correction in the short term, before the pair finally resumes its bullish trend.
Support levels: 0.9150 0.9115 0.9075
Resistance levels: 0.9220 0.9255 0.9280
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