EUR/USD, GBP/USD bounce off multi-month lows while USD/JPY rally stalls
EUR/USD, GBP/USD bounce off multi-month lows while USD/JPY rally stalls ahead of US durable goods orders release.
EUR/USD bounces off August low
EUR/USD's fall through the 200-day simple moving average (SMA) at $1.0871 has taken it to the August low at $1.0778 from around which it managed to stage a minor comeback.
Minor resistance can now be spotted along the 200-day simple moving average (SMA) at $1.0871 and also at the 1 October low at $1.0900.
A fall through this week’s $1.0762 near four-month low could provoke a slide to the mid-June low at $1.0668.
GBP/USD finds support at two-month low
GBP/USD tries to bounce off Wednesday's $1.2908 low towards the psychological $1.3000 mark and its September low at $1.3022 which may now act as resistance, together with the July peak at $1.3045.
Below $1.2908 meanders the 200-day SMA at $1.2803 which may act as support, if reached.
USD/JPY stalls at near three-month high
USD/JPY's rise to its near three month high at ¥153.18 has been followed by a pause in the uptrend and slip to the 200-day SMA at ¥151.40 which acts as short-term support ahead of the psychological ¥150.00 support region. Further potential support can be found at the mid-August high at ¥149.40.
A rise and daily chart close above Wednesday’s ¥153.18 high would put the late July high at ¥155.21 on the map.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
