AUD/USD rallies to 7-month high, GBP/USD to 2-week high on weaker US dollar while EUR/GBP stabilizes
AUD/USD rallies to 7-month high, GBP/USD to 2-week high on data driven weaker US dollar during Independence day holiday while EUR/GBP stabilizes.
AUD/USD rallies to 7-month high
On Wednesday, AUD/USD briefly overcame the major $0.6694 to $0.6714 resistance area and rose to a 7-month high at $0.6733. This remains in sight and a rise above which would likely engage the $0.6781 late December low.
Immediate support can be found at $0.6704 to $0.6698.
EUR/GBP advance pauses
EUR/GBP has been rejected by the key £0.8484 to £0.8503 resistance zone, a rise above which would target the 55-day simple moving average (SMA) at £0.8517, though.
Potential slips may found support along the support line at £0.8446 ahead of the recent lows at £0.8431-30.
GBP/USD rises again
GBP/USD found support slightly above last week's $1.2613 low before rallying to Wednesday's $1.2777 high. Above it the May high can be spotted at $1.2801.
Minor support below the 19 June high at $1.274 lies at the 1 July $1.271 high.
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