The EUR/USD starts the week with a soft tone, trading just above 1.3500 area, and with hourly chart holding past weeks bearish tone, as per price holding below moving averages while indicators remain flat around their midlines. The Spanish vote this Sunday is the main risk event for this Monday, nothing in fact quite worrisome. Market is quite bearish in the Euro, helping keep the upside limited as seen in the 4 hours chart: quite below 200 EMA that gains bearish slope around 1.3700 today, bullish movements are set to be selling opportunities once again.
Support levels: 1.3490 1.3450 1.3425
Resistance levels: 1.3520 1.3565 1.3615
Pound trades slightly lower at the opening, with price standing around recent lows. The GBP/USD hourly chart shows indicators heading slightly lower around their midlines, while 20 SMA limits the upside at 1.5800 price zone. In the 4 hours chat, the bearish momentum accelerates, while 200 EMA capped the upside past Friday at 1.5890, from where the pair retreating strongly and resumed its bearish trend, anticipating further slides for the midterm.
Support levels: 1.5740 1.5710 1.5660
Resistance levels: 1.5800 1.5825 1.5850
With no much changes from last updates, the USD/JPY tested the 76.50 area past Friday, yet returned back to recent range just below 77.10 price zone. The hourly chart shows a limited bullish tone, as per price holding above 20 SMA yet bigger time frames are still flat and lacking direction. Clear break above mentioned level may favor a recovery towards 77.50 area, yet expect gains to remain limited in the pair today.
Support levels: 76.80 76.50 76.25
Resistance levels: 77.10 77.50 77.90
Aussies heads towards fresh lows against the greenback at the weekly opening, turning midterm bearish after breaking below parity past week. The hourly chart, shows an increasing bearish momentum building up in the hourly chart despite a small opening gap, with indicators heading south, particularly RSI. In the 4 hours chart, the bearish tone is even cleared with 20 SMA capping the upside and heading lower, supporting more slides for today.
Support levels: 0.9960 0.9925 0.9900
Resistance levels: 1.0000 1.0030 1.0080
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