Friday, 28 February 2025 06:21 – The Australian Dollar (AUD) continues to slide, with the AUD/USD pair retreating further from its recent gains. The currency pair dropped below its 6 January peak of $0.6302, reaching a low of $0.6286 on Thursday. If this downward movement persists, the 55-day simple moving average (SMA) at $0.6262 is likely to come into focus as the next potential support level.
Resistance is seen at the February 20th low of $0.6328, as well as the January peak of $0.6330, which could cap any upward movement.
EUR/JPY Tests Key Support Levels
The EUR/JPY cross remains under pressure, hovering just above the ¥155.82 low set last Friday. This level lies between the December and February lows of ¥156.18 and ¥155.65, forming a crucial support zone. As long as this area holds, the pair may attempt a recovery toward the early February low of ¥157.97, which could act as initial resistance, along with the ¥159.70 low from mid-January.
A break below ¥155.82 could signal further declines, bringing the ¥155.00 region into play as the next support level.
USD/JPY Remains Resilient at Key Support
The USD/JPY pair has experienced a pullback from its 55-day SMA at ¥154.70, dipping briefly to ¥148.57—below the December low of ¥148.65—before finding some stability. As long as these levels hold, minor resistance at ¥150.93, marked by the early February low, could be revisited.
A failure to maintain support at ¥148.57 would likely lead to a retest of the September high at ¥147.21, potentially opening the door to further declines.
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Currency Pairs Stabilize: AUD/USD Loses Momentum, EUR/JPY and USD/JPY Maintain Support Levels
