The Australian Dollar (AUD) against the US Dollar (USD) has seen a pause in its upward momentum following a retreat from Friday’s three-month high of 0.6408. The pair appears to be resuming its climb, targeting the December 12 high of 0.6493, as long as last week’s low of 0.6328 remains intact.
AUD/USD Outlook: Resumed Bullish Momentum
After encountering resistance at 0.6408, AUD/USD has reverted to a more neutral stance, but the pair remains poised for further gains. A break past the December high would mark an extension of the bullish trend. The critical support level sits at 0.6328, and as long as it holds, the pair could continue its march higher.
EUR/JPY: Holding Above Key Support Zone
The Euro (EUR) and Japanese Yen (JPY) pair has seen a pullback from its 55-day simple moving average (SMA) at 160.93, reaching as low as 155.82 on Friday. This decline has taken the pair near the support zone formed by the December to February lows between 156.18 and 155.65. The 157.97 level from early February may act as an initial resistance point, with further obstacles at the 159.70 level from mid-January. However, the key support level lies at 155.82, which continues to underpin the pair.
EUR/JPY Technical Update: Near-Term Stability
EUR/JPY’s retreat has brought it to a critical support area, with potential resistance at the 157.97 and 159.70 levels. The broader trend remains neutral, but as long as 155.82 holds, there is scope for a potential bounce higher.
USD/JPY: Testing Support Levels
USD/JPY has been under pressure since its drop from the 55-day SMA at 154.87, finding temporary support around 148.85, near the December low of 148.65. Resistance is likely to emerge at the early February low of 150.93, which could cap any near-term recovery. The key for the pair’s short-term outlook remains the support at 148.65.
USD/JPY Analysis: Awaiting Confirmation at Support
The US Dollar and Japanese Yen pair is testing critical support, with a potential rebound if 148.65 holds. However, resistance at 150.93 could limit any upward movement, and traders will be watching for confirmation of support at these levels.
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