Worse than expected US preliminary GDP, triggered dollar gains across the board, as market continues to be traded on sentiment. The EUR/USD fell as lows as 1.3481 with the release, aiming to bounce at the moment, yet holding the bearish tone in the hourly chart, as per current candle opening below 20 SMA and indicators heading south just above their midlines. 4 hours chart remains flat, showing the pair trading in range and lacking direction with price around the 20 SMA and indicators flat around their midlines. The bearish trend however seems strong enough to keep the upside limited below 1.3550 price zone.
Support levels: 1.3500 1.3455 1.3420
Resistance levels: 1.3530 1.3555 1.3590
GBP/USD is recovering back above the 1.5610 area, after breaking below the Fibonacci level with the US data. Hourly chart however holds the bearish tone as per indicators heading lower below their midlines and price holding below 20 SMA. In the 4 hours chart, the bearish tone is still present yet limited; investors are not quite sure of what to do next, with ranges persisting all across the board.
Support levels: 1.5610 1.5577 1.5540
Resistance levels: 1.5660 1.5690 1.5730
The USD/JPY saw a movement higher on dollar buying, yet was again contained by 77.10 strong static Fibonacci resistance zone. Hourly chart shows a limited bullish momentum with indicators heading higher, yet unless a clear break of mentioned level, no more gains are meant to be seen in the pair. Risk aversion will also help keep the upside limited over current American session.
Support levels: 76.80 76.50 76.20
Resistance levels: 77.10 77.45 77.70
USD/CHF recovery was halted by a still bearish hourly 20 SMA, and the pair is back under some selling pressure, despite indicators head higher, still below their midlines. The 0.9150 area is key resistance now to overcome to confirm further gains over the upcoming hours, while the downside seems quite limited by recent lows around 0.9070. In the 4 hours chart, the pair holds a slightly bearish tone, yet showing no actual strength right now.
Support levels: 0.9115 0.9070 0.9040
Resistance levels: 0.9150 0.9180 0.9235
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