EUR/USD, GBP/USD bounce off multi-month lows while USD/JPY rally stalls
EUR/USD, GBP/USD bounce off multi-month lows while USD/JPY rally stalls ahead of US durable goods orders release.
EUR/USD bounces off August low
EUR/USD's fall through the 200-day simple moving average (SMA) at $1.0871 has taken it to the August low at $1.0778 from around which it managed to stage a minor comeback.
Minor resistance can now be spotted along the 200-day simple moving average (SMA) at $1.0871 and also at the 1 October low at $1.0900.
A fall through this week’s $1.0762 near four-month low could provoke a slide to the mid-June low at $1.0668.
GBP/USD finds support at two-month low
GBP/USD tries to bounce off Wednesday's $1.2908 low towards the psychological $1.3000 mark and its September low at $1.3022 which may now act as resistance, together with the July peak at $1.3045.
Below $1.2908 meanders the 200-day SMA at $1.2803 which may act as support, if reached.
USD/JPY stalls at near three-month high
USD/JPY's rise to its near three month high at ¥153.18 has been followed by a pause in the uptrend and slip to the 200-day SMA at ¥151.40 which acts as short-term support ahead of the psychological ¥150.00 support region. Further potential support can be found at the mid-August high at ¥149.40.
A rise and daily chart close above Wednesday’s ¥153.18 high would put the late July high at ¥155.21 on the map.
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