EUR/JPY and AUD/USD higher, but EUR/GBP back at September lows
The euro is stronger against the yen but weaker versus sterling, while the Australian dollar is struggling to move higher against the greenback.
EUR/JPY testing recent highs
EUR/JPY has moved higher over the past three sessions, and is once again on the cusp of challenging the ¥163.64 area that has remained as resistance since August.
Beyond this lies the 200-day simple moving average (SMA), currently ¥164.48. Recent weakness found support around ¥162.00, halting any new move to the downside for now.
EUR/GBP back to September lows
A volatile period over the past month has now taken the price back to the September lows with EUR/GBP, leaving the downtrend of the past year firmly intact.
The bounce in early October fizzled out around £0.84, and this was followed up by more selling. Support around £0.8313 continues to hold for now, but a break below this brings the 2022 lows into view. Any rebound in the short-term needs to close above £0.84 to indicate some medium-term strength.
AUD/USD edges higher
The US dollar continues to have the edge over its Australian counterpart in the short-term with AUD/USD, and despite two attempts to rebound, the downward move remains in place from the October highs.
Buyers are once again attempting to push the price higher, lifting it from the overnight six-week lows. The uptrend of recent months is clinging on for now, and positive divergence in daily stochastics is providing some hope of a recovery.
Weakness in early September found support around the 200-day SMA, so a close below this could indicate a bigger drop.
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