GBPUSD:
The GBPUSD remains above the 100 hour MA (blue line in the chart below) at the 1.6329 level. Stay above, all is ok with the buyers today. Move below and there will be a break in the pattern. For most of the London and NY session , the lows have been tracking above the MA line.
Technical Analysis: GBPUSD continues to track above the 100 hour MA.
EURUSD
The EURUSD inched lower in trading today, making new lows for the year and traded at the lowest level since July 10, 2013. The low from September 9th at 1.2858 and the 38.2% of the move down from the Thursday/Friday high comes in at 1.28589. The is close resistance for shorts. Stay below and the bears remain in firm control. Move above and the it is not the end of the world but would like to see more momentum this week and the downside is the closest path. (PS don’t want to see the price move above the 100 hour and 200 hour MA this week (blue and green lines in the chart below).
Technical Analysis: EURUSD has close resistance now against the 1.28589
USDJPY
The USDJPY could not extend higher or lower in trading so far today. The 109.17 level is now the ceiling. The 108.76 is trend line support followed by the 100 hour MA at the 108.40 level (and moving higher). Remember the price of the USDJPY has only 6 hour bar closes below the 100 hour MA since August 29th. A move and close below will be eyed for further downside momentum, but it has to get there first.
Technical Analysis: USDJPY continues the consolidation above trend line and 100 hour MA (blue line).
AUDUSD
The AUDUSD has been consolidating at the low trend line (currently at 0.8852). Stay above and there could be room for a correction higher on Tuesday with the trend lines and 100 hour MA ahead as resistance targets. The price moved above the 100 hour MA last week, but the momentum could not be established and the price ultimately rotated lower.
Technical Analysis: AUDUSD trying to find a bottom but it is not in a hurry.
