The following are the intraday outlooks for EUR/USD, EUR/JPY, and AUD/NZD as provided by the technical strategy team at SEB Group.
EUR/USD: Buyers at support target a fresh high. Another leg higher is underway following proof that buyers did not waste the opportunity to get in at support on top of prior highs. So pressure is back on resistance at 1.1290\302 and if broken, sights should be raised to 1.1450\535. Well the current short-term stretch at 1.1360 should be kept in mind on the way.
EUR/JPY: Tests resistance at 135.30-136.70. Euro buyers responded here as they did elsewhere too yesterday. This up keeps short-term bullish momentum for attest of recent 135.30 136.70 peaks, which currently also describe the low & high end of the still negatively sloped 233day exponentially weighted moving average band and the latter also a short-term overstretch. So expect one more high before more pronounced selling hits the market. Support is however likely strong at 132.30/130.75.
AUD/NZD: A decisive break higher. The second attempt to break above the 1.0520/30 resistance became successful to say the least. The break and high close has now made the market taking aim at the next topside hurdle, 1.0970 the 2015 high (so far).
'This content has been provided under specific arrangement with eFXnews'.
eFXnews is a financial news and information service. Articles and other information distributed in this service and published on this site are provided in general terms and do not take account of or address any individual user's position. To the extent that some of these articles include suggestions as to various possible investment strategies which users might consider, they do so in only general terms without reference to the personal factors which should determine any user's investment decisions to buy or sell a specific security or currency.
The service and the content of this site are provided and distributed on the basis of “AS IS” without warranties of any kind either, express or implied, including without limitations, warranties of title or implied warranties of merchantability or fitness for a particular purpose. eFXnews and its employees, officers, directors, agents, and licensors do not also warrant the accuracy, completeness or timeliness of the information in any of the articles and other information distributed in this service and included on this site, and eFXnews hereby disclaims any such express or implied warranties; and, you hereby acknowledge that use of the service and the content of this site is at you sole risk.
In no event shall eFXnews and its employees, officers, directors, agents, and licensors will be liable to you or any third party or anyone else for any decision made or action taken by you in your reliance on any strategy and/or advice included in any article and other information distributed in this service and published in this site.
Recommended Content
Editors’ Picks
AUD/USD turns south toward 0.6400 after mixed Australian jobs data
AUD/USD has come under renewed selling pressure and turned south toward 0.6400 after Australian employment data pointed to loosening labor market conditions, fanning RBA rate cut expectations and weighing on the Aussie Dollar.
USD/JPY remains below 154.50 amid weaker US Dollar
USD/JPY keeps losses for the second successive session, trading below 154.50 in Asian trading on Thursday. The pair is undermined by the latest US Dollar pullback, Japan's FX intervention risks and a softer risk tone.
Gold retreats as lower US yields offset the impact of hawkish Powell speech
Gold prices retreated from close to weekly highs during the North American session on Wednesday amid an improvement in risk appetite. The bullish impulse arrived despite hawkish commentary by US Federal Reserve officials.
OMNI post nearly 50% loss after airdrop and exchange listing
Omni network lost nearly 50% of its value on Wednesday after investors dumped the token following its listing on top crypto exchanges. A potential reason for the crash may be due to the wider crypto market slump.
US stock continue to stumble as traders rethink rates
US stocks grappled with uncertainty on Wednesday in the wake of a cautious string of commentary from the US Federal Reserve officials. The S&P 500 is currently experiencing its longest non-bullish streak in months.