EUR/USD Current price: 1.3582


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After setting a daily high of 1.3606, the EUR/USD consolidates its latest gains, supported by encouraging news from Europe. The head of the ECB, Mario Draghi, avoided talking about further facilities, maintaining the usual wording in his economic policy speech which along with Italian relief on the Berlusconi affair, helped the common currency against most rivals. As usual, the strong advance was followed by an uneventful American session, where lately majors dedicate to consolidate. While the market awaits for news in the US front, as Obama has invited Congress members to discuss the shut down and the debt ceiling, the hourly chart shows indicators had corrected some of the overbought conditions reached earlier, but maintain the positive tone. In the 4 hours chart technical readings present also a positive tone, although lacking bullish momentum after latest consolidative stage. A price acceleration above 1.3620 is now required to confirm a new leg higher towards this year high of 1.3710. 


Support levels: 1.3570 1.3535 1.3490


Resistance levels: 1.3620 1.3660 1.3710



EUR/JPY Current price: 132.22


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Yen continues strengthening against most rivals, sending EUR/JPY to a fresh 3-week low of 131.40 this Wednesday. The hourly chart, shows following corrective movement halted around 132.50, from where price now retreats, as indicators also turn south around their midlines. Daily basis, the pair has set a lower low and a lower high which also favors another leg lower for the upcoming hours, and considering stocks are about to close in red, there’s little room for a recovery in the upcoming hours.


Support levels: 132.10 131.55 131.00


Resistance levels: 132.60 133.00 133.40



GBP/USD Current price: 1.6225


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Intraday positive, today’s attention has been away from GBP/USD which traded inside yesterday’s range. The hourly chart shows price retraced most of the European session gains, although buyers surged around 1.6210, triggering a so far limited bounce. In the mentioned time frame, price stands above 20 SMA, while indicators head slightly higher above their midlines, keeping the upside favored. In the 4 hours chart, 20 SMA holds a strong bullish slope below current price, although indicators diverge to the downside, anticipating a probable downside corrective movement on a price acceleration below mentioned 1.6210 area, eyeing then 1.6140/50 price zone.


Support levels: 1.6210 1.6180 1.6145 


Resistance levels: 1.6260 1.6300 1.6335



USD/JPY Current price: 97.36


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Barely unchanged from last update, the USD/JPY stands around US opening levels after reaching a daily low of 97.13, holding to its overall bearish tone: the hourly chart shows price extending below the broken trend line, while indicators turn lower in negative territory. 100 and 200 SMA hold well above current price, extending their bearish slope while the 4 hours chart shows indicators also supporting a downward continuation, with 200 DMA acting as next big support around 96.40, followed by August low of 95.80.


Support levels: 97.20 96.80 96.40


Resistance levels: 97.60 98.00 98.40 



AUD/USD Current price: 0.9383


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Australian dollar extends its recovery against the greenback, heading towards 0.9400 and erasing early losses on Australian negative data. The hourly chart shows upward momentum building up, with indicators heading higher above their midlines and price advancing above 20 SMA. In the 4 hours chart the neutral stance persists, with indicators hovering around their midlines and price around a flat 20 SMA. Price needs to breach 0.9450 static resistance area, to be able to extend its gains towards 0.9520 highs. 


Support levels: 0.9335 0.9280 0.9240  


Resistance levels:  0.9410 0.9450 0.9490















































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