EUR/USD, GBP/USD come off resistance while AUD/USD also takes a hit
EUR/USD, GBP/USD come off resistance while AUD/USD also takes a hit amid rising US dollar following President Trump inauguration.
EUR/USD thwarted by resistance
EUR/USD's recovery from its over 2-year $1.0178 low probably ended at Monday's $1.0434 high since the $1.0436-to-$1.0460 resistance area caps.
Minor support can be seen around the 20 December $1.0344 low and then at the $1.0225 early January low.
GBP/USD hovers above 13-month low
GBP/USD continues to range trade above its 15-month $1.2100 low but is likely to remain below Monday's $1.2345 high and the early January low at $1.2353. Were these levels to be exceeded, though, the November low at $1.2488 may be reached.
A fall through the $1.2100 mark looks more probable, however, and would target the October 2023 low at $1.2038, as well as the psychological $1.2000 mark.
AUD/USD drops
AUD/USD's recovery from its mid-January $0.6132 low has so far taken it to $0.6288, close to the $0.6302 early January high which is expected to cap.
Minor support is to be found at the $0.6180 late December low and Friday's $0.6165 trough.
A fall through the $0.6132 current January low would put the October 2008 low at $0.6009 on the map.
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