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EUR/USD, AUD/USD rallies take a hit as USD/JPY bounces off 7-month low
EUR/USD, AUD/USD rallies take a hit as USD/JPY bounces off 7-month low as US dollar recovers on US President Trump’s comments that he doesn’t plan to fire Fed Chair Jerome Powell.
EUR/USD rally falters
EUR/USD's advance to Monday's $1.1573, made close to the $1.1603 November 2020 low, has taken a hit with the cross dropping to $1.1308 before heading back up again.
Below $1.1308 lies minor support around the $1.1265 mid-April low.
USD/JPY bounces off seven-month low
USD/JPY rallied from Tuesday's ¥139.58 low to Wednesday's ¥143.22 intraday high before resuming its descent towards the September low at ¥139.58.
Minor resistance above ¥143.22 can be seen at the 9 April low at ¥143.99.
AUD/USD revisits key resistance
AUD/USD once again tries to break through the February-to-early April highs at $0.6388-to-$0.6408, having briefly dipped to $0.6350 on Wednesday.
The 200-day simple moving average (SMA) at $0.6464 thus remains in sight.
Below $0.6350 meanders the 55-day SMA at $0.6292.
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