EUR/USD, AUD/USD resume their descents while USD/JPY hits 34-year high
EUR/USD, AUD/USD resume their descents while USD/JPY hits 34-year high as the greenback appreciates across the board.
EUR/USD resumes its descent
EUR/USD is trading back below its 55-day simple moving averages (SMA) at $1.0846, following Tuesday's brief foray to $1.0864. Above it lies minor resistance at the early and late-February highs at $1.0888 to $1.0897.
Key short-term support sits between the late February and current March lows at $1.0802 to $1.0797, a fall through which would target the $1.0724 to $1.0695 region.
AUD/USD probes support
AUD/USD fell back to its February-to-March uptrend line, having been rejected by the 55-day SMA at $0.656 on Tuesday.
A fall through recent lows and last week's $0.6504 trough would put the February low at $0.6443 on the cards. This level will remain in focus as long as no bullish reversal takes the cross above last week's $0.6634 high.
USD/JPY hits 34-year high
USD/JPY made a new 34-year high at ¥151.97, a rise above which and the ¥152.00 mark would engage the ¥153.60 July 1987 peak.
Minor support sits in the ¥150.88-83 region.
While last Thursday's ¥150.27 low underpins, an upside bias will remain in play.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
