The EUR/USD has been under pressure most of this Tuesday, hit by more menaces of downgrade, this time for the EFSF’s. The common currency fell as low as 1.3332 against the greenback yet US stocks positive tone favored a late recovery to current levels. The hourly chart, shows a very limited bullish tone as per indicators heading higher just above their midlines and price above a flat 20 SMA, with the pair trading mostly in range. In bigger time frames, the upside seems still limited as per 4 hours indicators still heading south below their midlines. Price needs to break above 1.3460 area, to be able to trigger a more interesting upward momentum over the upcoming hours, not yet seen.
Support levels: 1.3360 1.3320 1.3280
Resistance levels: 1.3430 1.3480 1.3530
Pound slide reached 1.5560 strong static support against the dollar, after the BOE announced a new facility program to provide liquidity to the market. Entering Asian session around 1.5600, the pair is biased to the downside according to technical studies in both, 1 and 4 hours chart. A short term descendant trend line today at 1.5690, should attract sellers in case of recoveries, while once below mentioned 1.5560, expect the selloff to accelerate.
Support levels: 1.5560 1.5520 1.5470
Resistance levels: 1.5660 1.5690 1.5730
The USD/JPY trades in a very limited intraday range, having moved from high to low barely 25 pips past Tuesday. Still, the bearish tone persists in the pair as price is being capped by 20 SMA in the hourly chart, while RSI remains below the 50 level. In the 4 hours chart, the bearish tone is also present and limited, with 77.50 as next strong support. Loses below this last should favor an approach to the 77.00/20 area, before buyers halt the slide.
Support levels: 77.50 77.25 76.90
Resistance levels: 77.80 78.05 78.25
The AUD/USD managed to trim past Asian session losses in the latest American hours, still intraday negative. In the hourly chart, and despite the bullish tone the indicators show, the pair is clearly trading in range, lacking a clear direction since the dollar swap coordinated intervention past week. Technically, the pair needs to regain the 1.0270 level strong resistance area, to attempt a bullish continuation rally towards the 1.0330 static Fibonacci level, while above this last the bullish tone should accelerate. Still not seen, renewed weakness below 1.0190 may push the pair back towards 1.0150 price zone, yet clearer trend signs may need to wait until upcoming ECB economic policy meeting next Thursday.
Support levels: 1.0230 1.0190 1.0150
Resistance levels: 1.0270 1.0300 1.0330
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