GBP – failure to extend recovery off $1.5560 back above $1.5590 sees rate slip back to $1.5570, while the cross again meets demand around the stg0.8340 level with it extending its recovery off earlier lows at stg0.83295 to challenge resistance between stg0.8345/50. A break here to open a retest on earlier highs at stg0.8360. For cable, bids seen placed
now between $1.5560/50, with stops placed on a break of $1.5540.
EUR/JPY – posts fresh highs of Y100.02 on the recent move, tracking EUR/USD on semi-official demand. The 5 day MA offers resistance at Y100.08, a break opens a deeper move towards Y100.45/50. Rate eases at typing to Y99.93
EUR/USD – Traders report that US investment companies seen providing the main demand interest, as rate extends recovery above earlier highs of $1.3008 to $1.3017 strong tech level, Dec22 low). Rate moves higher at writing, extending the rally to $1.3030 and holding firm. Next band of resistance seen between $1.3040/50.
EasyForexNews Research Team