Dollar strength and European jitters remain firm, pushing EUR/USD to a daily low of 1.3211, from where the pair is currently bouncing slightly higher. Hourly chart shows indicators in extreme oversold levels, aiming for a limited bullish corrective movement, yet price holds near daily low which should keep the upside limited. In the 4 hours chart the bearish momentum remains quite strong, supporting the overall bearish bias.
Support levels: 1.3210 1.3175 1.3145
Resistance levels: 1.3265 1.3115 1.3150
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The GBP/USD bearish trend eased somehow as the pair trades in yesterday’s range, following a fresh low set at 1.5422 early Europe. Hourly chart shows indicators flat around their midlines, and price aiming higher above an also flat 20 SMA, still limited. In the 4 hours chart, signs of a short term reversal are also present, with previous candle showing a low downside shadow, and indicators aiming to recover from oversold levels. Above 1.5500, the pair may extend gains towards 1.5550 where 20 SMA in the 4 hours chart, will offer strong resistance.
Support levels: 1.4265 1.5420 1.5380
Resistance levels: 1.5500 1.5550 1.5590
Dollar buying interest has drove USD/JPY to fresh monthly highs around 77.72, with the hourly chart showing indicators still strongly bullish, 20 SMA gaining also bullish slope, and price above 77.50 Fibonacci support, 50% retracement of the latest post intervention rally. 4 hours chart shows indicators also slightly bullish although not showing too much strength at the moment. Bias will remain short term bullish as long as above mentioned 77.50 price zone.
Support levels: 77.50 77.10 76.80
Resistance levels: 77.70 78.05 78.30
The USD/CHF soared to 0.9300 daily high following a probable SNB intervention in the EUR/CHF, not yet confirmed. Strongly bullish according to the hourly chart, pair should now hold above 0.9270 area to extend gains over the upcoming US session. In the 4 hours chart the pair is also biased to the upside, heading for a retest of the 0.9300/10 price zone, October monthly high and immediate resistance zone.
Support levels: 0.9270 0.9240 0.9200
Resistance levels: 0.9310 0.9345 0.9380
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