EUR/USD stabilises, EUR/GBP slips while EUR/JPY resumes its ascent
EUR/USD stabilises, EUR/GBP slips while EUR/JPY resumes its ascent as Fed members remain focused on US inflation.
EUR/USD rally is taking a breather
EUR/USD's break through the tentative downtrend line and rise above the April high confirms the medium-term trend reversal we had envisaged several weeks ago. The next upside target is the March peak at $1.0981 but first a minor corrective move lower may be seen.
Minor support can be found along the breached downtrend line at $1.0824.
EUR/GBP slips into its range
EUR/GBP is seen slipping towards its 55-day simple moving average (SMA) at £0.8563.
Simultaneously, the 200-day SMA at £0.8602 caps.
EUR/JPY has resumed its advance
What a difference a day makes! EUR/JPY recovered from Thursday's ¥167.34 low and revisits its ¥169.10 to ¥169.40 resistance zone, a rise above which would engage the ¥170.00 mark.
The cross remains immediately bullish while above ¥167.34.
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