EUR/USD, GBP/USD and AUD/USD rise back towards key resistance
EUR/USD, GBP/USD and AUD/USD attempt to regain ground, but we need to see resistance broken if the bulls to gain a better footing.
EUR/USD falls back into trendline support
EUR/USD has been on the back foot over the course of the week, with the price breaking $1.1514 support and moving swiftly into trendline support. This raises the risk of a rebound for the pair, although we are yet to see any such sign as it stands.
A move up through the $1.1477 level could bring about expectations of a wider retracement phase. However, we will ultimately require a rise through $1.1609 to bring about a more reliable bullish signal for pair.
GBP/USD falls into 10-month low
GBP/USD has been on the back foot following a hesitant the Bank of England (BoE) rate decision, with the pair falling into a 10-month low. However, we are seeing the pair turn higher this morning, with the price heading towards the $1.3433 swing high.
A break up through that level would bring about an upward phase and potential retracement of the wider sell off from $1.3607. As such, keep a close eye out for whether or not we break $1.3433 as a key gauge of sentiment for the day ahead.
AUD/USD downtrend continues despite early rebound
AUD/USD has similarly been regaining ground this morning, with the price moving up towards the $0.7311 swing-high.
A break up through that level would bring about expectations of a wider rebound. However, we are yet to see such a move, with the bearish trend in play until then.
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