EUR/USD in key support area
EUR/USD has dropped below the rising trendline that has held in place since last April. It is now into the key support area that has held around $1.22 since the beginning of February.
Below this, $1.1950 would be a possible area of support. A turn higher continues to target $1.24 and $1.2520.
EUR/USD price chart
GBP/USD holding despite drop
While the price for GBP/USD is dropping below $1.40, it does continue to hold the 50-day simple moving average (SMA) of $1.3989.
However, a fresh bounce from here would target $1.42 and then $1.4345. Further losses will test support at $1.3836, $1.3711 and then $1.3659.
GBP/USD price chart
USD/JPY in a strong rally
USD/JPY has enjoyed a strong rally, breaking above ¥107.30 for the first time since early March.
From here, ¥108.00 comes into view. A failure to hold above ¥107.32 would trigger a broader fall back towards ¥105.00.
USD/JPY price chart