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There are many positive developments in AUD/JPY - a higher low formed last week, the close above the 100-day MA on Thursday (73.75) and the formation of the bullish “Rising three methods” pattern on the D1. On the H1, the pair is consolidating within a symmetric triangle. On H4, there’s bearish divergence. As a result, a short-term correction down is likely before the pair continues the advance. All in all, as long as it stays above 73.75, it will have a chance to rise to 74.50 (September highs) and 75.00 with the ultimate resistance at 76.00 (200-day MA).
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
How does the GBP/USD look like?
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The USD/CAD price has been falling down since March 19. What are the reasons?
