Dollar gains spread across the board, as risk sentiment push stocks and commodities to fresh monthly lows. The FX board has erased already most of the post coordinated dollar swaps’ intervention gains, while US stock are just half way, although heading there no doubts. The EUR/USD hourly chart shows the strong dominant trend continues developing capped by 20 SMA and with candles posting lower lows; despite oversold readings are seen both in 1 and 4 hours chart the slide shows no signs of being ready to give up, still heading towards 1.2870 this year low.
Support levels: 1.2950 12920 1.2870
Resistance levels: 1.3010 1.3035 1.3070
Pound also fell despite at a slower pace against the greenback, testing by the time of writing yesterday’s low at 1.5450. Hourly chart shows price failed to clearly break above a still bearish 20 SMA, while indicators are back heading south below their midlines. In the 4 hours chart, the downside pressure is also strong, supporting a break lower for the upcoming US session, with 15420, past November monthly low, as key support to break to see further slides today.
Support levels: 1.5420 1.5380 1.5345
Resistance levels: 1.5490 1.5520 1.5550
Slowly but steadily, the USD/JPY has been gaining ground amid dollar buying, with the pair now just above 78.00. Hourly chart shows price finding support in a slightly bullish 20 SMA while indicators remain above their midlines yet with no much strength. The 4 hours chart also shows a limited bullish tone, yet again only a clear break above 78.30 static resistance zone may favor more interesting gains in the pair.
Support levels: 77.80 77.50 77.35
Resistance levels: 78.30 78.65 78.90
The USD/CHF continues consolidating barely below 0.9500, pushing higher despite hourly RSI saturates around 70.00. The 20 SMA holds a strong bullish slope, acting as dynamic support currently around 0.9460, while momentum turned flat and shows no bullish strength right now. In the 4 hours chart however, indicators had resumed the upside despite in overbought levels, pointing for a test of 0.9530/50 static resistance zone.
Support levels: 0.9460 0.9430 0.9400
Resistance levels: 0.9510 0.9550 0.9585
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