AUD/USD, EUR/USD and GBP/USD bounce off Thursday’s lows
AUD/USD, EUR/USD and GBP/USD bounce off Thursday’s lows ahead of Friday’s US PCE inflation reading.
AUD/USD revisits resistance
AUD/USD is recovering from Thursday's $0.6591 low towards the $0.6644 to $0.6667 resistance area which may cap again, though. If $0.6591 were to be fallen through, the 55-day simple moving average (SMA) at $0.6561 might be in sight.
EUR/USD tries to stabilize
EUR/USD once again managed to bounce off its breached March-to-May downtrend line which, because of inverse polarity, acted as support, together with the 200-day SMA at $1.0787. While the next lower 55-day SMA at $1.0780 holds, short-term sideways trading remains to be seen.
Minor resistance sits at the $1.0836 mid-May low.
GBP/USD stabilizes
This week's GBP/USD decline paused at Thursday's $1.2681 low, made close to the 24 May low at $1.2676. While these levels underpin, further range trading is likely to be witnessed. A drop below these lows would engage the April-to-May tentative uptrend line at $1.2628, however.
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