AUD/USD, GBP/USD hover above support while USD/JPY continues its advance
AUD/USD, GBP/USD hover above support while USD/JPY continues its advance ahead of US CPI and FOMC meeting.
AUD/USD under pressure
AUD/USD managed to level out slightly above the 55-day simple moving average (SMA) at $0.6573 on Monday. While it holds, a recovery move may take the cross to its 5 June low at $0.6627.
A fall through the 55-day SMA would likely engage the 8 May low at $0.6558 ahead of the 200-day simple moving average (SMA) at $0.6539.
GBP/USD hovers above support
GBP/USD has come off its 4 and 7 June 2 1/2 month highs at $1.2818 which were made close to the $1.2823 mid-March high, and slid to support at $1.2694 to $1.2676 before bouncing off it on Monday.
If it were to give way on a daily chart closing basis, a more significant top may be formed, though.
Minor resistance can be found at the 22 May high at $1.2761.
USD/JPY rises further still
USD/JPY is still heading towards its late May peak at ¥157.70. This should remain the case while minor support in the ¥156.48-45 zone holds.
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