EUR/JPY surges and AUD/USD pushes higher, but EUR/GBP comes under heavy pressure
The euro has surged to a three-month high against the yen, but is under heavy pressure against the pound. Meanwhile, AUD/USD is attempting to move higher after yesterday’s losses.
EUR/JPY surges to twelve-week high
EUR/JPY surged yesterday to its highest level since the beginning of August, pushing above the 200-day simple moving average (SMA).
The price continues to be supported by rising trendline support from the September lows. Meanwhile, horizontal support at ¥163.64 and then ¥161.87 might provide some help in the event of renewed losses.
EUR/GBP hit by early selling
Early trading has seen EUR/GBP slump after yesterday’s bounce, threatening a test of the recent lows around £0.8310.
A close below this could open a path to the lows of 2022 at £0.8251 and £0.8203. Bearish momentum remains strong, and daily stochastics appear to be poised to roll over to the downside.
AUD/USD tiptoes higher
Tuesday saw AUD/USD fall to its lowest level since early September, testing the 200-day SMA once more.
The price is attempting to rebound, and daily stochastics continue to rise, which provides hope of a short-term low. A close back above $0.67 might suggest that a low has formed. Alternately, a renewed push lower could target the August lows around $0.6482.
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