EUR/USD, GBP/USD and AUD/USD all in retreat
A resurgence in the dollar is hitting the euro, sterling and the Aussie hard, pushing them back towards their recent lows against the US currency.
EUR/USD hit by greenback strength
With EUR/USD, the renewed dollar strength has begun to weigh on the pair once again, causing it to retreat in recent sessions back towards the low from earlier in the month.
A move below $1.185 would amplify the bearish view and support a drop back towards $1.17. Buyers will need to push the price back above $1.195 to help negate the bearish view.
GBP/USD continues to retreat
GBP/USD is on the back foot, heading towards $1.38 as it gives back most of the ground won last week.
The lower high just below $1.40 reinforces the expectation of lower prices, and should put the price on course for further declines. Trendline resistance from mid-June continues to hold back any upside progress for the time being.
AUD/USD heads sharply lower
With AUD/USD, the aforementioned USD strength continues to push the pair lower, creating a lower high at $0.76 and pushing the price back towards $0.748.
As with the other two pairs, the sellers are firmly in charge for the time being.
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