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.
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.
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.
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.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market.
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.