FX levels to watch: EUR/USD, GBP/USD and AUD/USD
The euro has put the ECB meeting behind it and is pushing higher, while the Australian dollar has also been able to record further gains against the greenback.
EUR/USD shrugs off post-ECB weakness
The Europeal Central Bank (ECB) meeting failed to deter euro bulls, with EUR/USD recording a higher low and higher high over the next day and a half.
Pullbacks towards $1.126 may provide another buying opportunity, while above $1.13 the $1.145 area comes into view as a target.
GBP/USD stuck in sideways pattern
Rallies to $1.312 this week have failed to produce much progress for GBP/USD, and with the price turning lower below $1.31 it looks like another test of $1.304 and then $1.299 is in the offing.
If the price does move higher, $1.319 becomes the next target to watch on the upside.
AUD/USD continues to carve out new uptrend
Last week saw the AUD/USD bottom out around $0.706, and since then higher highs and higher lows have been seen.
The pair found support around $0.7115, creating a new higher low, but some weakness has been seen overnight. A move below $0.7115 provides a more bearish view, targeting $0.709, but a recovery targets the highs of the week at $0.717.
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