EUR/USD, GBP/USD rally on hopes of German stimulus package while AUD/USD struggles
EUR/USD, GBP/USD rally on hopes of German stimulus package while AUD/USD struggles as US imposes tariffs on Canada, Mexico and China.
EUR/USD digs into key resistance
EUR/USD is once more trying to break through its major $1.0461-to-$1.0533 resistance area. A break above it on a daily chart closing basis would engage the 200-day simple moving average (SMA) at $1.0721.
Minor support remains to be seen at last week's $1.0360 low and the mid-January high at $1.0354.
GBP/USD rallies
GBP/USD remains on track to reach the mid-December high at $1.2729, above which meanders the 200-day simple moving average (SMA) at $1.2783.
This bullish view will remain valid while the 19 February and last week's lows at $1.2564-to- $1.2560 as well as the $1.2550 early February high offer support on a daily chart closing basis.
Should this not be the case, the January peak at $1.2524 could be eyed instead.
AUD/USD still tries to find support
AUD/USD seems to have found support between its 19 December low at $0.6200 and the December low at $0.6180 at Monday's $0.6187 low.
Minor resistance remains to be seen along the 55-day simple moving average (SMA) at $0.6253 and at the 6 January high at $0.6302.
Below $0.6180 lies the mid-January low at $0.6165.
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