Greg Michalowski with the morning Forex technical report for April 24, 2023.
The EUR/USD pair tried breaking out of its range, with support found at the 100-hour moving average. It moved up but couldn't break through the resistance from previous weeks. It's now back around 1.1020, with support at 1.0999-1.1006.
For the USD/JPY it's been a bit messy, but support has been found at a trend line and within a key swing area. Breaking below this support could lead to downside momentum. To move higher, it needs to get and stay above the 100-hour moving average and break through 134.70.
Lastly, the GBP/USD pair briefly moved up yesterday but couldn't maintain momentum. It's now below the 100 and 200-hour moving averages, signaling sellers are in control.