EUR/USD runs into resistance
EUR/USD has stalled around $1.2370, finding it hard to push higher.
Further gains continue to target $1.25, while a drop back may find support at the 50-day simple moving average (SMA) at $1.2333, and the $1.2323 level. Short-term support has been seen at $1.2350, so if this holds then we can expect more gains.
GBP/USD aims to resume march higher
Yesterday saw GBP/USD knocked back from $1.4220, so this will be the level to watch today, to see if the price can move on to $1.4345.
Having held the 50-day SMA ($1.3990) so strongly at the end of last week, the pair retains its bullish outlook unless we close below this indicator.
USD/JPY stuck below ¥107.00
The continued failure to break above ¥107.30 calls into question the ability of USD/JPY to keep rallying.
If momentum falters now, then ¥105.25 and then ¥104.63 come into view. We need a close above ¥107.50 to suggest a break higher is on the cards.