AUD/USD slips as RBA keeps rates on hold while GBP/USD struggles and USD/JPY resumes its ascent
AUD/USD slips as RBA keeps rates on hold while GBP/USD struggles and USD/JPY resumes its ascent despite probable currency intervention.
AUD/USD capped by resistance
AUD/USD has been trying to overcome the $0.6644 to $0.6667 resistance area for the past three days but to no avail. A minor retracement towards the late April high at $0.6586 thus looks probable.
While last week's low at $0.6466 underpins, however, the medium-term uptrend remains intact. A rise above $0.6667 would engage the $0.685 region.
GBP/USD treads water
GBP/USD retains its bullish bias but is struggling to advance. The cross remains short-term bullish while it stays above Wednesday's $1.2466 low on a daily chart closing basis.
While $1.2466 underpins, the March-to-April tentative downtrend line at $1.2619 will remain in focus, as well as last week's high at $1.2635.
USD/JPY advances once more
Last week USD/JPY found support along the 55-day simple moving average (SMA) at ¥151.88 and has since resumed its advance towards the ¥160.00 mark.
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