EUR/USD, EUR/GBP and EUR/JPY strengthen post German election
EUR/USD, EUR/GBP and EUR/JPY strengthen post German election as Germany’s conservative party secures a win.
EUR/USD tests key resistance
EUR/USD is still trying to break through its key $1.0461-to-$1.0533 resistance area. It needs to be overcome, for a medium-term bullish reversal to be confirmed.
Minor support sits at last week's $1.00401 low and along the 55-day simple moving average (SMA) at $1.0395 as well as at the 23 January low at $1.0372.
EUR/GBP stabilises
EUR/GBP bounces off its late December low at £0.8264 following the German parliamentary election. A fall through this level would put the December low at £0.8223 on the map.
A rise above the early February low at £0.8292 would eye the 10 February low at £0.8310 and the 55-day SMA at £0.8328. Further up lies last week's £0.8352 high.
EUR/JPY bounces off support
EUR/JPY descent from its 55-day SMA at ¥160.99 has taken it all the way to Friday's ¥155.82 low, made between the December-to-February lows at ¥156.18-to-¥155.65.
The early February low at ¥157.97 may act as minor resistance, together with the ¥159.70 mid-January low.
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