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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

AUD/USD slips as RBA keeps rates on hold while GBP/USD struggles and USD/JPY resumes its ascent

AUD/USD slips as RBA keeps rates on hold while GBP/USD struggles and USD/JPY resumes its ascent despite probable currency intervention.

USD Source: Getty Images

AUD/USD capped by resistance

AUD/USD has been trying to overcome the $0.6644 to $0.6667 resistance area for the past three days but to no avail. A minor retracement towards the late April high at $0.6586 thus looks probable.

While last week's low at $0.6466 underpins, however, the medium-term uptrend remains intact. A rise above $0.6667 would engage the $0.685 region.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

GBP/USD treads water

GBP/USD retains its bullish bias but is struggling to advance. The cross remains short-term bullish while it stays above Wednesday's $1.2466 low on a daily chart closing basis.

While $1.2466 underpins, the March-to-April tentative downtrend line at $1.2619 will remain in focus, as well as last week's high at $1.2635.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

USD/JPY advances once more

Last week USD/JPY found support along the 55-day simple moving average (SMA) at ¥151.88 and has since resumed its advance towards the ¥160.00 mark.

USD/JPY chart Source: TradingView.com
USD/JPY chart Source: TradingView.com

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