EUR/USD, EUR/JPY and GBP/USD are taking a hit.
EUR/USD, EUR/JPY and GBP/USD are taking a hit as the greenback gains ground amid higher yield environment.
EUR/USD falls out of bed
EUR/USD's failure below its $1.0895 May high and Wednesday's sharp drop neutralize our forecast with the 200- and 55-day simple moving averages (SMAs) being back in play. Further down the April-to-May tentative uptrend line may offer support at $1.0754
EUR/JPY tops out
EUR/JPY is coming off this week's ¥170.79 high, above which lies the ¥171.58 April peak. The cross revisits Thursday's ¥169.30 low, a fall through which could trigger a deeper corrective move lower.
GBP/USD keels over
On Tuesday GBP/USD advance stalled in the $1.28 region with it currently falling towards last week's low at $1.2676. A drop below this low would engage the April-to-May tentative uptrend line at $1.2616.
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