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EUR/USD, EUR/GBP and EUR/JPY bid ahead of priced in ECB rate cut

EUR/USD pushes higher

EUR/USD is once again pushing upwards, eying last week’s high at $1.0916. Further up beckon the 24 January high at $1.0932 and the 21 March high at $1.0942, ahead of the March high at $1.0981. Immediate support lies at Wednesday’s $1.0855 low and at the $1.0836 mid-May low.

EUR/GBP revisits support

EUR/GBP revisits its key £0.8503-to-£0.8484 support zone but still has last week’s high at £0.8540 in view. If overcome, the 55-day simple moving average (SMA) at £0.8558 would come into play. Were a daily chart close below £0.8484 to be seen, though, the July and August 2022 lows at £0.8409-04 would be eyed instead.

EUR/JPY mixed

This week’s swift EUR/JPY sell-off seems to have ended at Tuesday’s ¥168.03 low with further upside back in store, targeting the ¥170.00 region and then the ¥170.79 to ¥170.89 zone. Minor support sits between Tuesday’s ¥168.03 low and the mid-May low at ¥167.34.

This post appeared first on ig.com

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