AUD/USD, EUR/USD see strong rallies while USD/JPY falls out of bed
Outlook on AUD/USD, EUR/USD see strong rallies while USD/JPY falls out of bed ahead of US Non-Farm Payrolls.
EUR/USD trades in near two-month highs
EUR/USD's rise above its $1.0932 late-January high confirms a medium-term bottoming formation and puts the minor psychological $1.10 mark on the map.
This bullish view will remain in play while the late-February high and 55-day simple moving average (SMA) at $1.0888 to $1.0874 underpin.
AUD/USD confirms bottoming formation
AUD/USD's rise and daily chart close above the 22 February high at $0.6595 confirms a medium-term bottoming formation with the mid-January high at $0.6729 representing the next upside target.
Minor support below the 55-day SMA at $0.6603 sits at the 22 February $0.6595 high.
USD/JPY is falling out of bed
USD/JPY has clearly topped out and is fast approaching the 55-day SMA at ¥147.37 where it may find short-term support. Further down beckon the ¥146.15 to ¥145.90 200-day SMA and early-February low.
Minor resistance can now be spotted at the ¥148.80 mid-January high.
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.
