EUR/USD tests resistance
EUR/USD continues to grind higher, targeting last week’s high at $1.0916. Further up beckon the 24 January high at $1.0932 and the 21 March high at $1.0942, ahead of the March high at $1.0981.
Immediate support lies at Wednesday’s $1.0855 low and at the $1.0836 mid-May low.
GBP/USD trades close to its 2 1/2 month high
GBP/USD trades within a whisker of its 2 1/2 month high at $1.2818 which was made close to the $1.2823 mid-March high, both of which are within reach. Further up beckons the March peak at $1.2894.
Since negative divergence can be spotted on the daily Relative Strength Index (RSI), a fall through Tuesday’s low at $1.2743 may still have short-term negative implications and put the $1.2694 to $1.2676 region on the cards.
USD/JPY range trades
USD/JPY range trades above Tuesday’s ¥154.55 low and below the last few days’ ¥156.48 high. Further up beckons the mid-May high at ¥156.78.
Support below the accelerated uptrend line at ¥155 lies between the 55-day simple moving average (SMA) at ¥154.61, Tuesday’s low at ¥154.55, and the March-to-June uptrend line at ¥154.20.
