Thursday brought some corrective movements that favored the greenback over the Asian session, although European players are going again for the US currency, sending it back to red territory against major rivals. The EUR/USD hourly chart shows price above a now flat 20 SMA, while price struggles around the daily descendant trend line coming from 1.3858, November 9th daily high. Indicators show no much strength right now yet remain in positive territory, while in the 4 hours chart the bullish momentum persists: pair needs however to overcome 1.3530, yesterday’s high, to confirm a continuation rally for the upcoming hours.
Support levels: 1.3440 1.3400 1.3355
Resistance levels: 1.3505 1.3530 1.3575
The GBP/USD fell as low as 1.5636 today, before bouncing back above 1.5700 area. Trading in a limited range just above 20 SMA in the hourly chart and with indicators heading slightly south above their midlines, pair has immediate support around 1.5680 price zone. If below this last, the bearish tone may accelerate, as 200 EMA keeps the upside limited around 1.5770. Only a clear break above this last resistance area, will deny any slide and favor a continuation rally towards 1.5830 area over the American session.
Support levels: 1.5680 1.5650 1.5620
Resistance levels: 1.5730 1.5770 1.5815
Japanese yen loses ground against major rivals, slowly but steadily. The USD/JPY trades back above the 77.70 static resistance area, holding a limited bullish tone in the hourly chart as per indicators heading higher above 100. In bigger time frames, the bias is also bullish suggesting the 77.50 support will keep the downside limited today.
Support levels: 77.70 77.50 77.20
Resistance levels: 78.05 78.30 78.55
Still bearish after breaking a daily ascendant trend line coming from 0.8566 daily low, the USD/CHF seems unable to regain the 0.9100 price zone. Short term spikes above that level did not hold, while hourly chart shows indicators still in bearish territory, helping keep the upside limited. Pair would need at least a candle opening above 0.9940 to erase the current tone, and attempt a stronger recovery towards 0.9200, not yet seen from a technical point of view.
Support levels: 0.9060 0.9020 0.8990
Resistance levels: 0.9105 0.9140 0.9180
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