After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.
EUR/JPY looks vulnerable
Information is not investment advice
EUR/JPY failed to settle above the 100-day MA. This line has a bearish bias and acts as resistance around 126.70. The weekly pivot point is also located near this area. As long as the pair is capped by this level, sellers will dominate at this market.
The ECB meeting scheduled later today will lead to an increase in volatility. There are reasons to think that the upcoming move will be to the downside. The bearish targets include a former resistance zone of 125.90 and 125.45 (Fibo level).
GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum.
CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.
As today is the last day of the first quarter, let’s look at the performance of the major currency pairs and analyze what may come next for them.
WTI is at 17-year lows. Is it the end?
FLAGS EURUSD M30 ARROW Resistance 1…