EUR/USD Current price: 1.2965
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The EUR/USD is consolidating recent loses, trading for most of this Thursday in between 1.2920 and 1.2970 area. The strong risk aversion eased somehow, and stocks are posting limited gains across Europe, while US futures point so far for a strong opening. Mixed US data, with worse than expected trade balance yet positive weekly unemployment readings, failed to change positive mood among investors, leaving EUR/USD hourly chart with a slightly bullish tone: indicators hold above their midlines losing momentum, while price stands above a flat 20 SMA. The upside however, is being capped by 1.2970 static resistance area, past February monthly low. A recovery above may trigger a continuation of current bullish correction towards 1.3010 area, 23.6% retracement of the latest daily fall. To the downside, the pair is finding buyers in the 1.2910/25 region, so only a clear break lower will favor a bearish continuation after current consolidation. Bearish trend persists as seen in bigger time frames, as long as below 1.3100 area. In the 4 hours chart, indicators barely corrected extreme oversold levels, holding the overall bearish tone.
Support levels: 1.2920 1.2880 1.2845
Resistance levels: 1.2970 1.3010 1.3045
GBP/USD Current price: 1.6172
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Earlier today, the BOE left the economic policy unchanged, triggering a quite interesting recovery in Pound, as market priced in a probable extension of the assets purchase program. Industrial production in the UK come out mixed, yet overall positive easing recession concerns among investors. The hourly chart shows price at daily high at 1.6176 by the time of writing, while indicators head north above their midlines, and 20 SMA gains bullish slope below current price. In the 4 hours chart the pair presents a limited bullish tone, with indicators heading north right around their midlines, and current candle opening above a flat 20 SMA. Immediate resistance comes at the 1.6190 area, while only above 1.6220 the upward momentum will resume.
Support levels: 1.6145 1.6115 1.6060
Resistance levels: 1.6190 1.6220 1.6255
USD/JPY Current price: 79.88
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The USD/JPY managed to regain some ground today, breaking above the 79.80 static support level on stocks gains. The hourly chart shows bullish momentum building u as indicators head north above their midlines, while price stands above 20 SMA. In the 4 hours chart the upward tone is more limited as indicators hold below their midlines while price struggles around a flat 20 SMA. Pair needs to clear the 80.10 Fibonacci resistance, to extend gains over the upcoming sessions.
Support levels: 79.80 79.45 79.10
Resistance levels: 80.10 80.30 80.60
USD/CHF: Current price: 0.9258
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The USD/CHF accelerates lower on dollar falls, with the pair testing the base of its latest range and suggesting further slides in the hourly chart, as price broke below 20 SMA and indicators move slightly lower. In the 4 hours chart indicators suggest a bearish correction from overbought readings, while 20 SMA offers dynamic support around 0.9140: the pair needs to accelerate below this last to confirm a deeper correction towards the 0.9170 area.
Support levels: 0.9240 0.9200 0.9170
Resistance levels: 0.9300 0.9340 0.9380
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