AUD/USD drops as RBA keeps rates on hold but adopts mildly dovish stance while EUR/JPY, USD/JPY rise
AUD/USD drops as RBA keeps rates on hold but adopts mildly dovish stance while EUR/JPY, USD/JPY retain their upward trajectory.
AUD/USD drops on mildly dovish RBA stance
AUD/USD slid back below its $0.6400 mark as the RBA kept rates on hold at 4.35% but adopted a mildly dovish stance. The cross nonetheless remains above Friday' $0.6373 low, made close to the August low at $0.6349. While both levels underpin, a minor recovery towards the $0.6434 late November low may ensue.
Further minor resistance is found along the September-to-November downtrend line and the 29 November high at $0.6482-to-$0.6528.
EUR/JPY still bid
EUR/JPY's rise off the August-to-December uptrend line at ¥156.18 has so far taken it to ¥159.99, to marginally above minor resistance at the 22 November ¥159.91 low, with the ¥162.39 55-day simple moving average (SMA) representing a possible upside target.
Support below Monday's ¥157.87 low can be found in the ¥157.00 region.
USD/JPY rises gradually
USD/JPY recovers further from last week's ¥148.65 low and has finally risen above the 55-day SMA at ¥150.88 and so far gotten close to the 6 November low at ¥151.30. Further up beckons the 200-day SMA at ¥151.94.
Below the ¥148.65 low sits the 8 October low at ¥147.35.
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