Quite uneventful Monday when it comes to price actions, as the EUR/USD has been trading in a very limited range most of the European session, finding resistance at the 23.6% retracement of the daily fall from 1.4246 to 1.3211 around 1.3455. Hourly chart shows indicators flat with a limited bullish tone just above their midlines, while 20 SMA holds the downside around 1.3410. In the 4 hours chart, current candle struggles around a bullish 20 SMA while indicators also hold a limited bullish tone, yet unless a clear break above mentioned 1.3455 area, the upside will remain limited.
Support levels: 1.3410 1.3355 1.3320
Resistance levels: 1.3455 1.3490 1.3530
The GBP/USD managed to post a limited bounce from past week lows, contained so far by current level, 20 SMA in the 4 hours chart. In the hourly chart, indicators show a timid bullish tone that may help the pair reach 1.5710 price zone, strong Fibonacci resistance area, if current daily high at 1.5665 gives up. In bigger time frames, range dominates the chart giving no much of direction clue, pointing for more ranges over the upcoming US session.
Support levels: 1.5620 1.5590 1.5550
Resistance levels: 1.5665 1.5710 1.5745
With dollar slightly lower across the board, the USD/JPY loses momentum and breaks the base of last days’ bullish channel, yet more by lateralization rather than pointing for a bearish break. Hourly indicators are heading south around their midlines while price just broke below a flat 20 SMA, yet only below 77.70 static support area, the pair may draw a more interesting slide.
Support levels: 77.70 77.50 77.20
Resistance levels: 78.05 78.30 78.55
The USD/CHF also lacks direction as volume went missing today, with price now retreating back below 0.9200, yet holding mostly in range. Hourly chart shows a limited bearish tone, while in the 4 hours one indicators turned flat above their midlines and price holds above 20 SMA. Bearish potential in the pair however, seems limited as long as above 0.9140 static support area.
Support levels: 0.9185 0.9140 0.9115
Resistance levels: 0.9210 0.9245 0.9280
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