EUR/USD, GBP/USD and AUD/USD keel over
EUR/USD, GBP/USD and AUD/USD keel over and may soon resume their declines amid a strengthening US dollar.
EUR/USD keels over
EUR/USD is being rejected by the $1.0436-to-$1.0460 resistance zone and may soon slip towards the 20 December $1.0344 low and even the $1.0225 early January low.
Above $1.0460 lies the mid-December high at $1.0534.
GBP/USD tops out
GBP/USD may be in the process of resuming its descent towards its 15-month $1.2100 low, provided that no advance above the $1.2400 mark is seen.
A slip through the $1.2100 level would target the October 2023 low at $1.2038, as well as the psychological $1.2000 mark.
Arise and daily chart close above the $1.2400 level would push the November low at $1.2488 to the fore.
AUD/USD capped by resistance
AUD/USD's recovery from its mid-January $0.6132 low has so far taken it to $0.6295, close to the $0.6302 early January high which still caps. Provided this level caps, the medium-term downtrend may soon resume.
A fall through the $0.6132 current January low would eye the October 2008 low at $0.6009.
If $0.6302 were to be exceeded on a daily chart closing basis, however, the 11 December low at $0.6337 would be in focus.
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