EUR/USD and AUD/USD fall into key support
EUR/USD and AUD/USD fall back into key support, with the reaction proving key to forthcoming sentiment.
EUR/USD falls back into range support
EUR/USD has been on the back foot of late, with the pair dropping into the $1.1235 support level.
The price has been largely rangebound in the last three-weeks, and thus this support level does bring the possibility of a short-term rebound for the pair. A decline through the $1.1222 level would bring about a more bearish outlook.
AUD/USD at risk of bearish phase after recent decline
AUD/USD has similarly dropped back not key support, with the price trading around the notable $0.709 swing low.
While we have been in a positive position of late, this decline signals a potential end to that retracement phase. Thus watch out for whether we can recover from here or drop through support as a gauge of forthcoming sentiment.
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