EUR/USD rises while GBP/USD and USD/JPY stuck below resistance
EUR/USD is still pushing higher, while both GBP/USD and USD/JPY have run into resistance.
EUR/USD continues to see gains
The uptrend goes on here, with the EUR/USD price holding above the 50-hour simple moving average (SMA) throughout Wednesday’s session.
It is making a new higher high at $1.095 in the early part of Thursday’s session, while a dip towards $1.085 would provide another higher low. A drop below $1.075 would likely negate the bullish view.
GBP/USD still held below $1.20
The GBP/USD pair has pushed higher from last week’s lows, but a firm push above $1.20 continues to elude it.
Yesterday’s sharp drop found buyers, but momentum has drained away below $1.20. A reversal below $1.16 would provide a more bearish view.
USD/JPY stuck below ¥111.50
For USD/JPY, repeated attempts to push above ¥111.50 have met with failure, and the price is set to test support around ¥110.20.
Below this, ¥109.60 may then come into play. Further upside requires a move above ¥111.50.
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