AUD/USD hits 8-month high while EUR/JPY, USD/JPY stay side-lined
AUD/USD hits 8-month high while EUR/JPY, USD/JPY stay side-lined but continue to have a bearish bias.
AUD/USD continues its advance and trades in 8-month highs
AUD/USD's sharp rally off its $0.6349 low nearly reached the 10 May 2023 high at $0.6819 before sliding back below its July high at $0.6798, a level reached on Friday of last week as well.
Minor support lies at Tuesday's $0.6762 low and at the 21 August high at $0.6761. Further potential support lies sits at the $0.6698 level, made up of the 4 June high and 22 August low.
EUR/JPY still side-lined
EUR/JPY continues to range trade below the 200-day simple moving average (SMA) at ¥163.99 whilst remaining above the ¥160.00 mark. Further minor support is found at the 12 August low at ¥159.83.
Downside pressure should be maintained while the 200-day SMA caps.
USD/JPY remains under pressure
USD/JPY's recent sell-off has so far taken it to Monday's low at ¥143.45 from which it is once again trying to recover towards the July-to-August downtrend line at ¥145.46.
Support below ¥143.45 lies at the ¥141.70 early August low.
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