The common currency has been on a selling rally since early Monday, falling as lows as 1.3162 before bottoming for the day. Risk aversion ruled the day sending stocks lower and dollar higher against major rivals, even gold. The EUR/USD enters the Asian session trading still heading lower, with immediate support at 1.3145, past October low. Hourly chart shows indicators in extreme oversold levels yet price unable to recover above 1.3200; in the 4 hours chart, the bearish momentum continues increasing, suggesting no much of a recovery for now, yet on contrary further slides trough 1.3145 support.
Support levels: 1.3145 1.3110 1.3070
Resistance levels: 1.3220 1.3250 1.3290
The GBP/USD fell as low as 1.5526 early Europe, only to bounce towards 1.5656 on EUR/GBP selloff. 20 SMA in the 4 hours chart around that level contained the upside and the pair is now trading back lower; the hourly chart shows price approaching to US session lows while 20 SMA heads lower above current price, helping keep the upside limited. Momentum aims for a recovery crossing the 100 level to the upside not reflecting recent slide: a continuation rally below 1.5560, should send price back towards the 1.5500/20 price zone.
Support levels: 1.5560 1.5510 1.5470
Resistance levels: 1.5600 1.5630 1.5660
Dollar demand this Monday has sent USD/JPY higher, currently approaching 78.00 price zone and daily high. Hourly chart shows momentum heading higher, and a general bullish tone also supported by bigger time frames, but only a clear above 78.30 area, not yet seen, would confirm more gains in the pair for the upcoming hours.
Support levels: 77.80 77.50 77.35
Resistance levels: 78.05 78.30 78.65
The bearish trend seems ready to resume in the AUD/USD, as price extended below the 1.0080 area, 38.2% Fibonacci retracement and immediate resistance zone. Having set an intraday low at 1.0050, approaches to parity seem likely for the upcoming session, supported by technical indicators in both the 1 and the 4 hours chart: indicators remain below their midlines, showing no strength right now as per recent range, yet lose of mentioned will likely trigger more selling in the cross.
Support levels: 1.0050 1.0000 0.9960
Resistance levels: 1.0080 1.0110 1.0160
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