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AUD/USD revisits support while EUR/USD consolidates and USD/JPY probes upside​​​

​​​AUD/USD revisits support while EUR/USD consolidates and USD/JPY probes upside​ amid Fed ‘rates higher for longer’ talk.​

USD Source: Getty Images
Forex United States dollar Japanese yen USD/JPY EUR/USD AUD/USD
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​AUD/USD probes support

​AUD/USD weighs on its previous key resistance - now because of inverse polarity support zone - at $0.666 to $0.664, just as it did last week when it bounced off it. While it holds on a daily chart closing basis, last week's high at $0.67 remains in sight and, above it, the $0.68 area.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

​EUR/USD rally stalls

​EUR/USD struggles to overcome last week's high at $1.08, above which still beckons the March peak at $1.09. Upside pressure will retain the stronger hand while Friday's low at $1.08 underpins. Further minor support can be seen along the breached downtrend line at $1.08.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​USD/JPY pushes upwards

​USD/JPY gradual advance towards last week's high at ¥156.78 remains on track. ​Above ¥156.78 beckons the ¥158.00 region while ¥153.61 underpins. Below it meanders the 55-day simple moving average (SMA) at ¥152.86.

USD/JPY chart Source: TradingView.com
USD/JPY chart Source: TradingView.com

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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