EUR/USD, GBP/USD and AUD/USD medium-term bullish trend reversals confirmed
Last week’s EUR/USD, GBP/USD and AUD/USD weekly chart closes above key resistance confirm medium-term bullish trend reversals.
EUR/USD confirms medium-term bullish trend reversal
EUR/USD is pushing further into its key $1.0461-to-$1.0533 resistance area which needs to be bettered for a medium-term bullish reversal to be confirmed.
Minor remains to be seen along the 55-day simple moving average (SMA) at $1.0402 and also at the 23 January low at $1.0372.
Major support below this week's $1.0281 low remains to be seen at the January-to-February lows at $1.0224-to-$1.0178.
GBP/USD is now medium-term bullish
GBP/USD's weekly chart close above the early February $1.2550 high confirms a medium-term bottoming formation, targeting the $1.3000 region.
Immediate upside pressure should be maintained while last Tuesday's low at $1.2333 underpins.
Minor support is to be found at $1.2550 and at the $1.2524 late January high ahead of the 55-day SMA at $1.2485.
AUD/USD switched from medium-term bearish to bullish
AUD/USD's weekly chart close above the late January high at $0.6330 is medium-term bullish and targets the $0.6850 region.
The $0.6330 January peak has now become support because of inverse polarity. Further minor support may be found around the $0.6302 early January high and along the 55-day SMA at $0.6273.
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