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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

​​​EUR/GBP sell-off stalls while EUR/JPY, AUD/USD rallies pause​​​

​​​EUR/GBP sell-off stalls while EUR/JPY,AUD/USD rallies pause ahead of Wednesday’s FOMC meeting.​​

Euro Source: Getty Images

​​​EUR/GBP finds support amid positive Eurozone data

EUR/GBP is stabilizing above its two-month support line after five consecutive days of falling prices amid better-than-expected French preliminary quarter 1 (Q1) gross domestic product (GDP) growth and German retail sales data.

​ ​Minor resistance is now seen along the 55-day simple moving average (SMA) at £0.8556.

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

EUR/JPY consolidates below ¥171.58

EUR/JPY is expected to range trade below this week's ¥171.58 high. ​Minor support below Monday's ¥165.65 low can be seen at the 20 March high at ¥165.35.

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

​AUD/USD rally is taking a breather

​Following six straight days of gains, AUD/USD is seen slipping towards the 200-day SMA at $0.6522 and the $0.6504 mid-March low. Further down lies the $0.6481-78 support area.

​​Strong resistance lies between Monday's high and the December-to-April tentative downtrend line at $0.6586-98.

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

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