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.
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/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.
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.
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