The EUR/USD is quite today with the greenback consolidating yesterday’s gain, with the pair unable to regain the 1.3200 price zone. EU woes continue with menaces of more downgrades, and investors unable to think what has been done is enough. The hourly chart shows price below 20 SMA and indicators losing momentum, while in bigger time frames the bearish tone persists, with indicators flat in oversold levels. Key support remains around 1.3145, past October monthly low.
Support levels: 1.3145 1.3110 1.3070
Resistance levels: 1.3220 1.3250 1.3285
Ahead of US opening, dollar is gaining momentum across the board, with GBP/USD approaching back to recent lows around 1.5560 immediate support. Hourly chart shows an increasing bearish tone as indicators turn south around their midlines, while price develops below a still flat 20 SMA. In the 4 hours chart, the indicators are also pointing for more loses, with yesterday’s low at 1.5535 as level to break to confirm the continuation in the short term.
Support levels: 1.5535 1.5500 1.5460
Resistance levels: 1.5590 1.5625 1.5660
Unchanged since last updates, the USD/JPY continues trading in a very tight range, with no clear direction signs; the hourly chart, as well as the 4 hours one show indicators flat below their midlines which should help keep the upside limited below 78.00 area.
Support levels: 77.80 77.50 77.35
Resistance levels: 78.05 78.30 78.65
The USD/CHF reached 0.9387, levels not seen since February this year on dollar strength, consolidating recent gains above 0.9335 area, previous monthly high and immediate support zone. The hourly chart shows price accelerating higher above 20 SMA despite momentum heads lower, which suggest another acceleration above 0.9380 area may lead to stronger gains today. In the 4 hours chart bias is bullish, supporting the view.
Support levels: 0.9335 0.9300 0.9270
Resistance levels: 0.9380 0.9415 0.9450
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