AUD/USD, EUR/USD and GBP/USD remain bid post Fed 50 bps rate cut
AUD/USD, EUR/USD and GBP/USD remain bid post Fed 50 bps rate cut, provided the crosses stay above their Wednesday lows.
AUD/USD remains bullish
AUD/USD reached its July peak at $0.6798 but not yet its August high at $0.6824 which was nearly hit on Wednesday, though, and remains in sight. If overcome, the 2 January high at $0.6839 will be in focus, followed by the late December peak at $0.6871.
Immediate upside pressure should be maintained while Wednesday's low at $0.6738 underpins.
EUR/USD at a loss
EUR/USD didn't know which way to go following Wednesday's 50 basis points rate cut but once more has its 6 September high at $1.1155 in its sights with Wednesday's low at $1.1069 acting as minor support.
Further minor support comes in around the 3 September low at $1.1027. Above $1.1155 lie Wednesday's high at $1.1189 and the August peak at $1.1201.
GBP/USD resumes advance
GBP/USD briefly overshot its recent highs at $1.3239-to-$1.3267 with Wednesday's high at $1.3298 which then capped. These levels are now back in focus and will remain so while Tuesday's low at $1.3147 underpins on a daily chart closing basis.
Were a rise above $1.3298 to be seen, the $1.3358 January 2022 low would be next in line.
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