EUR/USD and AUD/USD still holding gains
The euro and the Aussie are continuing to hold steady against the US dollar ahead of the Fed meeting tonight.
EUR/USD
The upward move is intact for the pair, though gains have slowed over the past two weeks. The EUR/USD price continues to hover just below the $1.0930 highs from early November.
A close above $1.0930 would open the way for further gains in the direction of the highs of late September at $1.12. Alternately, a close back below $1.08 could suggest that some further near-term weakness was ahead, though if it can hold above $1.05 a higher low is created.
USD/JPY
The counter-trend bounce continues for the USD/JPY pair. The early March high at ¥151.00 remains the first target. If it can close above this then the view could shift to a neutral one now that the price has moved back above the most recent lower high.
A reversal back below ¥148.50 might suggest the beginning of a new leg lower.
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