EUR/USD, USD/JPY, and AUD/USD price forecast: Key levels to watch amid market uncertainty
EUR/USD, USD/JPY, and AUD/USD face key resistance and support levels in volatile trading
The EUR/USD pair is trading near $1.0835, as it faces resistance at 1.09. The pair has been in an uptrend for several weeks, making higher highs and higher lows, but bullish momentum appears to be slowing. If the price breaks above 1.09, further gains toward 1.0950 and 1.10 are likely.
Technical indicators suggest continued bullish control. The 20-period EMA at 1.0810 is providing dynamic support, while the 50-period EMA at 1.0706 and the 200-period EMA at 1.0597 remain key trend levels. The RSI at 54.73 indicates moderate bullish momentum, though the MACD shows weakening buying pressure, suggesting a possible consolidation.
If EUR/USD remains above 1.0810, the bias remains bullish. However, a drop below 1.07 could shift momentum in favor of sellers.
EUR/USD, USD/JPY, and AUD/USD price forecast (Source: TradingView.)
USD/JPY remains range-bound with downside risks
The USD/JPY pair continues to trade in a narrow range between 147.45 and 148.70, struggling to break above the 149.10 resistance level. The broader trend remains bearish, as price action has formed lower highs and lower lows.
The 50-period EMA at 148.40 is acting as immediate resistance, followed by the 100-period EMA at 149.11 and the 200-period EMA at 150.55. Unless the price reclaims 150.55, the downtrend is likely to continue toward 146.50. The RSI at 46.35 indicates weak momentum, and a drop below 40 could trigger further selling pressure.
The MACD histogram suggests a slowdown in bearish momentum, but no clear trend reversal is in place. If the price fails to break above 149.10, the bias remains bearish, with key support at 148.00 and 146.50.
AUD/USD eyes breakout above $0.6350
The AUD/USD pair is trading near 0.6290, consolidating within a tight range. The pair has formed higher lows, signaling a potential shift toward an uptrend. A breakout above 0.6350 could push the price toward 0.6400 and beyond.
The 20-period EMA at 0.6311 is acting as immediate support, followed by the 50-period EMA at 0.6302. The 100-period EMA at 0.6299 and 200-period EMA at 0.6269 are providing additional support zones. The RSI at 54 indicates moderate bullish strength, and if it moves above 60, it would confirm stronger buying momentum.
The MACD is neutral, but the histogram suggests increasing bullish pressure. If price breaks 0.6350, further gains toward 0.6400 are possible. However, if the pair fails to hold above 0.6310, a retracement toward 0.6269 may occur.
In an earlier forecast, EUR/USD was seen targeting 1.0930, supported by Fed rate cut speculation. However, trade tensions and slowing momentum have introduced consolidation risks. USD/JPY remains bearish, while AUD/USD is attempting an uptrend but needs a breakout above 0.6350 for further gains.
