EUR/USD, GBP/USD and EUR/JPY bounce off support
Outlook on EUR/USD, GBP/USD and EUR/JPY as they bounce off support ahead of US services PMI data and Jerome Powell speech.
EUR/USD bounces back
The $1.0724-23 December and early February lows held as support for EUR/USD which is currently recovering.
While the $1.0797 to $1.0802 late February and March lows aren't bettered, though, the downtrend remains in place. A fall through $1.0724-23 would target the $1.0695 February low.
GBP/USD finds support
GBP/USD recovers towards the 200-day simple moving average (SMA) at $1.2586, having levelled out slightly above key support which sits between the December-to-February lows at $1.2519 to $1.25.
Above the 200-day SMA at $1.2586 lies the early March low at $1.26.
EUR/JPY resumes its ascent
EUR/JPY is recovering from its ¥162.68-61 mid-March high and early April low, so far to ¥163.32 with the February high at ¥163.71 representing the next upside target.
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