AUD/USD, EUR/USD and GBP/USD rally as 50bps Fed rate cut back on the table
AUD/USD, EUR/USD and GBP/USD rally as Us dollar slips due to 50bps Fed rate cut becoming more likely again.
AUD/USD remains bid
AUD/USD targets last Friday's $0.6767 high with the 22 August low at $0.6698 acting as potential support ahead of the 55-day simple moving average (SMA) at $0.6671.
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EUR/USD is heading back up again
EUR/USD rises further and targets the 22 August low at $1.1098. Minor support is seen around the 3 September low at $1.1027.
Only a currently unexpected fall through $1.1000 would likely engage the 21 March high at $1.0942. For now we stick to our neutral medium-term forecast with a bullish bias.
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GBP/USD advances further still
GBP/USD recovery from the $1.3000 mark is taking the cross back towards its recent highs at $1.3239-to-$1.3267.
Potential slips may find support around the 3 September low at $1.3088 ahead of this week's low at $1.3002.
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