EUR/USD, EUR/GBP and AUD/USD bounce off support
EUR/USD, EUR/GBP and AUD/USD bounce off support as US dollar strength takes a breather.
EUR/USD sees a bounce
Following six straight days of falling prices, EUR/USD saw a minor bounce on Wednesday which is likely to run out of steam ahead of or within the $1.0695 to $1.0725 resistance area.
Support sits between Tuesday's low at $1.0601 and the 78.6% Fibonacci retracement of the October-to-December advance at $1.0596. Below this level the late October lows at $1.0522 to $1.0517 as well as the $1.0449 October low remain to be seen.
EUR/GBP probes downtrend line
EUR/GBP has overcome the 55-day simple moving average (SMA) at £0.855 and reached the November-to-April downtrend line at £0.8571 which caps for now. If bettered, the £0.8582 to £0.8586 zone would be in sight.
Support is seen along the 55-day SMA at £0.855.
AUD/USD bounces off the 78.6% Fibonacci retracement
AUD/USD recovered from the 78.6% Fibonacci retracement of the October-to-December advance and Tuesday's low at $0.639, so far to $0.6456. Above this level lies the $0.6493-99 resistance zone.
Below this week's low at $0.639 sit the August and early September lows at $0.6366 to $0.6358.
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