The EUR/USD reached 1.3008 this Tuesday, having been under selling pressure since early Europe, thus accelerating after the FED upgraded modestly its outlook, putting QE3 one step further away. The euro zone on contrary lives a different story, with recession and downgrades around the corner. The pair enters Asian session quoting just above mentioned low, having bounced slightly higher due to extreme oversold readings reached in the hourly chart, yet far from a reversal; the bearish trend remains pretty much intact as long as the pair remains below 1.3145, past October low, heading now to January and yearly one, at 1.2870.
Support levels: 1.3000 1.2965 1.2930
Resistance levels: 1.3055 1.3090 1.3145
The GBP/USD was dragged lower by dollar buying and high yields selling that sent the pair to 1.5450 filling finally the gap left 3 weeks ago. The hourly chart shows indicators aiming slightly higher from extreme oversold levels, although price is still unable to regain the 1.5500 level. In the 4 hours chart, the bearish trend continues developing firmly, with 20 SMA gaining bearish slope above current price and with momentum heading south with no signs of giving up yet.
Support levels: 1.5450 1.5415 1.5370
Resistance levels: 1.5520 1.5550 1.5590
The USD/JPY ended the day unchanged quoting again just below 78.05 immediate resistance. Hourly chart shows price above 20 SMA and indicators heading higher above their midlines, while in bigger time frames bias is also slightly bullish. Again only clear break above 78.30 area, past November monthly high may favor further upside in the pair. The downside is still being limited by the 77.50 strong static support zone.
Support levels: 77.80 77.50 77.35
Resistance levels: 78.05 78.30 78.65
Aussie slide extended below the 38.2% retracement of the latest bullish daily run, falling below parity to reach 0.9970 now immediate support zone. Hourly chart shows price consolidating near lows, with indicators turning flat following price, while the bearish tone keeps increasing in bigger time frames. Next big figure for the pair is located at 0.9920 area, level that may be reached in the upcoming sessions.
Support levels: 1.0010 0.9970 0.9920
Resistance levels: 1.0040 1.0080 1.0110
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