EUR/USD Current price: 1.4205
Falling stocks and risk aversion after U.S. ADP are dragging the pair lower, with current candle attempting to break the small continuation flag the pair has. Price action is again under 20 SMA, while indicators have lost upside momentum, and are slowly turning to the downside. Pair needs to break under 1.2180 to accelerate the fall, better under next static support, strong 1.4150 area.
Support levels: 1.4180 1.4150 1.4110
Resistance levels 1.4230 1.4250 1.4280
GBP/USD Current price: 1.6206
Pound has recovered some upside momentum during European session, but hourly indicators suggest pair has found a top around 1.6250 resistance level. Indicators point for a downside movement to come, with 1.6180 as first support to consider. Bigger time frames show pair upside movement has halted exactly at the 20 SMA in 4 hours charts, suggesting further upside movements will remain limited.
Support levels: 1.6180 1.6145 1.6110
Resistance levels: 1.6220 1.6250 1.6300
USD/JPY Current price: 92.35
No changes since last update, Japanese yen continues printing lower lows, and remains strongly bearish as risk aversion grows fast. Now under 92.50 resistance level, break under 92.20 support zone will send pair to test the 91.70 key midterm level; if this last gives up, further downside movements are seen in the next days. Upside movements likely to remain limited by 93.40 area, not seen today.
Support levels: 92.20 91.70 91.40
Resistance levels: 92.50 93.00 93.30
USD/CHF Current price: 1.0674
Pair remains consolidating, almost flat in the hourly chart, yet slightly bullish in bigger time frames. We need a confirmation above 1.0710 to see the pair gaining some upside momentum, yet while 1.030 zone, should remain capping the downside to support the bullish bias.
Support levels: 1.0660 1.0630 1.0600
Resistance levels: 1.0710 1.0733 1.0770
Published on Wed, Sep 2 2009, 13:31 GMT
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