EUR/USD, GBP/USD and AUD/USD approaching key bullish levels
EUR/USD, GBP/USD and AUD/USD appear to be building a more bullish outlook, with key resistance up ahead.
EUR/USD breaking higher to bring bullish outlook
EUR/USD has been building a case for a bullish move following the failed attempt to break below $1.09.
Friday’s rise through $1.1018 provided confirmation of that short-term bullish view with gains expected in the coming days. Conversely, a break back below the $1.09 level would provide us with a bearish continuation signal.
GBP/USD consolidates around key area
GBP/USD strength seen throughout the second half (H2) of last week has taken this pair towards crucial breakout zone that could pave the way for substantial upside if broken.
Thus, watch for whether we see the price push through the $1.2986 level to bring a wider bullish picture into play once again. For the near term, the resistance level to watch comes at $1.2954.
AUD/USD could be on the cusp of a bullish break
AUD/USD has rallied towards the swing high of $0.6779 this morning, building on the gains from Friday.
A break through this level would bring about a more bullish short-term view, with the pair looking likely to reverse such of the downside seen since the peak of $0.6834. With that in mind, the outlook will be driven by the ability or inability to break through this key $0.6779 resistance level.
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