EUR/USD Current price: 1.3335
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After Friday gains the greenback starts the week with a positive foot across the board, gapping higher against its rivals, still underperforming when it comes to commodity currencies. The EUR/USD traded near 1.3310 in early interbank trading before bouncing back toward past week close, with the hourly chart maintaining a bearish tone, as per price below a bearish 20 SMA and indicators steady near oversold territory. In the 4 hours chart momentum approaches 100 as price develops below 20 SMA, also supporting a bearish continuation: price needs to break below 1.3310 however, to confirm the downward continuation.
Support levels: 1.3310 1.3275 1.3240
Resistance levels: 1.3375 1.3415 1.3445
EUR/JPY Current price: 128.40
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The EUR/JPY holds to the bearish trend underway, with the hourly chat showing price consolidating near price week low, and 100 SMA gaining bearish slope above current price around 129.35 and offering dynamic resistance. Indicators in the mentioned time frame head lower in negative territory, while in bigger time frames technical readings also present a bearish tone: 127.90 comes as immediate support, and if below there’s room for a slide towards 127.10.
Support levels: 127.90 127.50 127.10
Resistance levels: 128.80 129.35 129.80
GBP/USD Current price: 1.5500
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Pound quickly recovered ground against the dollar, maintaining a slightly negative tone in the short term, as indicators head south below their midlines and price develops below its 20 SMA. In the 4 hours chart price stands above a bullish 20 SMA, currently around 1.5470 and immediate support, while indicators approach their midlines still in positive territory. Further recoveries above 1.5520 will likely favor a recovery towards past week high of 1.5570, as the overall sentiment remains bullish in the pair. Below 1.5470 on the other hand, may see a deeper correction towards the 1.5390 area, where buyers should halt the slide.
Support levels: 1.5470 1.5420 1.5390
Resistance levels: 1.5520 1.5550 1.5600
USD/JPY Current price: 96.29
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The USD/JPY trades above the 96.00 level, yet holding the bearish tone that dominated the pair past week, as the hourly chart shows price well below its moving averages, with the distance in between 100 and 200 one widening. Indicators however aim slightly higher still in negative territory, denying slides at least in the short term. The upside is being capped by 96.80 Fibonacci resistance, and unless a price recovery above it the downside is favored.
Support levels: 96.20 95.70 95.30
Resistance levels: 96.80 97.20 97.60
AUD/USD Current price: 0.9180
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Australian dollar stands outperformed past week, holding near the highs around 0.9200 against the greenback. The hourly chart shows indicators heading lower, in which seems more a correction of extreme overbought readings than a sign of exhaustion, at least in the short term. In the 4 hours chart, the picture is right the same, with indicators exhausted in overbought territory pointing for a corrective movement towards 0.9130 immediate support. The level is key for the upcoming sessions, as a break below it should put the pair under further selling pressure with market players looking then for a retest of 0.9000.
Support levels: 0.9130 0.9100 0.9070
Resistance levels: 0.9170 0.9210 0.9260
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