AUD/USD slips from its 7-month high
Last week AUD/USD rallied to $0.6798 but has been under downside pressure ever since. The April-to-July uptrend line currently acts as support but, if fallen through, the 55-day simple moving average (SMA) at $0.6662 would be next in focus.
EUR/GBP recovers from near 2-year low
EUR/GBP’s descent to £0.8378, a level last traded in August 2022, has been followed by another minor bounce to £0.8422, close to the late June lows at £0.8430-31 which remain in sight.
Below £0.8378 sit the £0.8367 May and £0.834 August 2022 lows.
USD/JPY bounces off this week’s low
USD/JPY’s sharp drop from its ¥161.95 early July high to Thursday’s ¥155.38 low shows that a medium-term top lasting at least several weeks is now likely in place.
Nonetheless a bounce back towards the 16 July high at ¥158.86 is currently underway. Below ¥155.38 lies the early June low at ¥154.56.
