EUR/USD, GBP/USD and AUD/USD rebound into key resistance
EUR/USD, GBP/USD, and AUD/USD rise back into key resistance levels as risk attitudes improve.
![EUR/USD](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/bg_usd_eur_dollar_euro_362026467.jpg/jcr:content/renditions/original-size.webp)
EUR/USD rises into key resistance level
EUR/USD has pushed higher once again, with the rise in equity markets also being reflected by dollar weakness as the midterm election results roll in.
While the Senate is still up for grabs, the House looks highly likely to fall into Republican hands. Such an event brings less chance the Biden’s inflationary spending plans come to fruition, thus helping risk assets. While we have been seeing the pair on the rise of late, there is still a risk of a bearish turn given the long-term trend of lower highs.
That downtrend would require a break above the $1.0198 level to come to an end, with a distinct possibility of another move lower until such a break comes to fruition. With that in mind, keep an eye out for whether the price breaks or reverses from this $1.0093 resistance level.
![EUR/USD chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/article_charts_website_and_platform_images/article_charts_website_images/EURUSD-Daily-2022_11_09-07h57.png/jcr:content/renditions/original-size.webp)
GBP/USD rises back into trendline resistance
GBP/USD has also been regaining ground over the course of this week thus far, with the outperformance from Friday’s US jobs data providing the beginning of another move higher.
That rebound has now taken us into trendline resistance, which is accompanied by last week’s high ($1.1645), and the 100-day simple moving average (SMA). A break up through the $1.1738 level would bring expectations of a more protracted rebound for this pair.
However, until such a move comes to fruition, there is a good chance that we see the bears come back into play once again. A decline through $1.1146 would bring a bearish confirmation signal.
![GBP/USD chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/article_charts_website_and_platform_images/article_charts_website_images/GBPUSD-Daily-2022_11_09-08h11.png/jcr:content/renditions/original-size.webp)
AUD/USD rebounds into short-term resistance
AUD/USD has managed to regain lost ground this week, with the price rising into a six-week high yesterday. It is worthwhile noting the overnight inflation data out of China, with the collapse in producer price index (PPI) and a five-month low for consumer price index (CPI) easing pricing concerns elsewhere.
While we have seen the Australian dollar underperform thanks to the Reserve Bank of Australia (RBA) decision to slow the rate hike rise earlier than their peers, this rebound could have legs if we see the price push through $0.6547.
A solid break through that level would bring about expectations of a wider retracement of the $0.7137 to $0.617 selloff. As such, the reaction to this $0.6547 will be key in determining sentiment over the near term.
![AUD/USD chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/article_charts_website_and_platform_images/article_charts_website_images/AUDUSD-Daily-2022_11_09-08h27.png/jcr:content/renditions/original-size.webp)
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