EUR/USD, GBP/USD near support while USD/JPY remains bid
EUR/USD, GBP/USD near support while USD/JPY remains bid as FOMC and MPC members speak on Monday.
EUR/USD nears minor support
EUR/USD is trading close to its late February low at $1.0797 which should offer interim support while the 200- and 55-day simple moving averages (SMA) at $1.0837 to $1.085 represent resistance.
GBP/USD drops to key support
GBP/USD's bearish reversal from last week's $1.2803 post-Federal Reserve (Fed) meeting high has taken it to the 200-day (SMA) at $1.259. Below it lies key support between the December-to-February lows at $1.2519 to $1.25 which remain in focus.
Immediate resistance is seen along the 55-day (SMA) at $1.2684.
USD/JPY short-term stalls but remains bullish
USD/JPY's rapid advance has briefly taken the cross above its ¥151.73 October peak to ¥151.86 before giving back some of its recent gains towards the end of last week.
While last Thursday's ¥150.27 low underpins, immediate upside pressure will be maintained, though. While this is the case, the ¥151.91-94 late October and November peaks will remain in sight.
Minor support above ¥150.27 sits in the ¥150.88-83 region.
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