AUD/USD, GBP/USD and USD/JPY slip
Outlook on AUD/USD, GBP/USD and USD/JPY ahead of US NFPs on Friday and BoJ comments.
AUD/USD comes off its 3 ½ month high
AUD/USD's sell-off Monday’s 3 ½ month high at $0.6688 has been followed by a fall through the 200-day simple moving average (SMA) as the Reserve Bank of Australia kept its rates unchanged at 4.35% and as the country’s trade surplus came in smaller than expected.
The August, September and early-November highs at $0.6523 to $0.6511 represent a significant support zone which is expected to hold, at least short-term.
Provided it does, a bounce to last Thursday’s low and the 200-day SMA at $0.6571 to $0.6577 should ensue. Further up sits the 21 November high at £0.6589 which may also act as minor resistance.
GBP/USD slides further as greenback regains lost ground
GBP/USD's slip from last week’s near three-month high at $1.2733, on a strengthening US dollar amid weaker-than-expected US employment data ahead of Friday’s Non-Farm Payrolls, is ongoing.
The mid-November high at $1.2506 represents the next downside target ahead of the 200-day SMA at $1.2484.
Minor resistance can be spotted around last Thursday’s $1.2604 low.
USD/JPY drops to fresh three-month low
USD/JPY’s descent is ongoing with the June peak at ¥145.07 coming into view as Bank of Japan Governor Kazuo Ueda said the central bank has several options on which interest rate to target once it ends its negative interest rate policy. His comments led to flows into the Japanese yen.
The cross may find support between the June high and September low at ¥145.07 to ¥144.45.
Immediate resistance above Monday’s low at ¥146.23 sits between the 21 November and Wednesday’s lows at ¥146.90 to ¥147.15.
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