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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, EUR/GBP and EUR/JPY bid ahead of priced in ECB rate cut

EUR/USD, EUR/GBP and EUR/JPY rise ahead of a priced in 25 basis-point ECB rate cut.

Euro Source: Getty Images

EUR/USD pushes higher

EUR/USD is once again pushing upwards, eying last week's high at $1.0916. Further up beckon the 24 January high at $1.0932 and the 21 March high at $1.0942, ahead of the March high at $1.0981. Immediate support lies at Wednesday's $1.0855 low and at the $1.0836 mid-May low.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

EUR/GBP revisits support

EUR/GBP revisits its key £0.8503-to-£0.8484 support zone but still has last week's high at £0.8540 in view. If overcome, the 55-day simple moving average (SMA) at £0.8558 would come into play. Were a daily chart close below £0.8484 to be seen, though, the July and August 2022 lows at £0.8409-04 would be eyed instead.

EUR/GBP Source: TradingView.com
EUR/GBP Source: TradingView.com

EUR/JPY mixed

This week's swift EUR/JPY sell-off seems to have ended at Tuesday's ¥168.03 low with further upside back in store, targeting the ¥170.00 region and then the ¥170.79 to ¥170.89 zone. Minor support sits between Tuesday's ¥168.03 low and the mid-May low at ¥167.34.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

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