AUD/USD, EUR/GBP and GBP/USD rally post Powell remarks
AUD/USD, EUR/GBP and GBP/USD as greenback depreciates following remarks by Fed Chair Jerome Powell on the inappropriateness of lowering rates before "greater confidence that inflation is moving sustainably down to 2%".
AUD/USD rallies strongly
AUD/USD rallies from this week's low at $0.6481, made marginally above its $0.6478 March low, and is about to test its December-to-April downtrend line at $0.6594. If overcome, the $0.6624 to $0.6635 region will be next in line.
Support is seen along the 55- and 200-day simple moving averages (SMA) at $0.6546 to $0.6544.
GBP/USD bounces off support
GBP/USD nears the 55-day SMA at $1.2671, having levelled out slightly above key support which lies between the December-to-February lows at $1.2519 to $1.25.
Above the 55-day SMA at $1.2671 sits the 22 February high at $1.271.
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