The EUR/USD slide extended this Wednesday, with the pair entering Asian session near the daily low set at 1.3428 early Europe. News from the euro zone where not positive as usual, with more debt jitters and the ECB buying Italian and Spanish debt almost exclusively. Quoting at early October levels, the bearish tone is quite clear for the pair, advancing further slides: hourly chart, shows an increasing bearish momentum with price below 20 SMA indicators leading lower, and candles posting lower lows and lower highs. In the 4 hours chart, the indicators head north below their midlines, yet price action denies any attempt of upward correction. Expect a break of 1.3425 to trigger more selling in the pair.
Support levels: 1.3425 1.3390 1.3350
Resistance levels: 1.3520 1.3565 1.3590
Pound was under selling pressure since early Europe, hit by worse than expected employment data and dovish inflation report in the UK. Falling to fresh lows at 1.5718 by the time of writing, broke below 1.5770 announces more bearish runs for the GBP/USD. Hourly chart shows indicators heading lower below their midlines, and price capped below 20 SMA, supporting the bearish bias. 4 hours indicators are also showing and increasing bearish momentum that goes along market sentiment favoring dollar buying.
Support levels: 1.5710 1.5660 1.5620
Resistance levels: 1.5730 1.5770 1.5810
the USD/JPY continues trading in the same tight range limited below the 77.10 immediate Fibonacci resistance. Hourly chart shows momentum aiming higher above the 100 level yet price seems unable to follow. Bigger time frames remain flat lacking direction yet holding the general bearish bias as per trading below 100 and 200 DMA.
Support levels: 76.80 76.50 76.25
Resistance levels: 77.20 77.50 77.90
Aussie continues being driving lower by market sentiment, quoting at the lowest level since October 10th, and heading towards parity according to the hourly chart: price broke below 20 SMA while momentum heads south almost vertical. 4 hours chart shows price limited by 20 SMA and indicators resuming their bearish momentum; expect a limited bounce from parity before a break lower.
Support levels: 1.0065 1.0000 0.9940
Resistance levels: 1.0110 1.0160 1.0200
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