EUR/USD, GBP/USD and AUD/USD run into key resistance
EUR/USD, GBP/USD and AUD/USD gains look at risk, with Fibonacci retracement levels playing a key role in a potential move lower.
EUR/USD turns lower from key resistance
EUR/USD has reversed lower from the $1.1891 resistance level this morning, with the price moving back into the overnight swing low of $1.1865.
A decline through that support level would point towards a wider retracement of the rally from $1.1816 coming into play. As such, watch for a rebound or breakdown from $1.1816 to signal where we go over the day ahead.
GBP/USD faces questions after rally into Fibonacci resistance
GBP/USD has started to turn lower from the 76.4% Fibonacci resistance level this morning, with the recent break below trendline support pointing towards a potential reversal.
As such, watch out for whether we break below the $1.3244 swing low as a gauge of where we go from here.
AUD/USD rallies into 61.8% resistance level
AUD/USD has pushed into the 61.8% Fibonacci retracement level this morning, with the pair starting to weaken once again.
The trend of lower highs seen over the course of the week remains in play until we see a break through the $0.7331 resistance level. To the downside, a break below the $0.7266 level would signal an extension of the recent downward trend.
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