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​​​EUR/USD, GBP/USD weigh on key support while AUD/USD hovers above it

​​​EUR/USD, GBP/USD weigh on key support while AUD/USD stabilizes above it​ ahead of the weekend.​

GBP/USD Source: Bloomberg
Forex EUR/USD GBP/USD AUD/USD Pound sterling Australian dollar
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/USD remains under pressure

EUR/USD slid to the $1.07 mark on Thursday which, together with the $1.0694 February low remains in sight and represents major support. Were it to give way on a daily chart closing basis, a longer-term bearish signal would be triggered.

Minor resistance remains to be seen at Friday's $1.0791 low.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​GBP/USD still under pressure

GBP/USD weighs on the key $1.252 to $1.25 support zone, a fall through which would have bearish implications.

​Minor resistance is seen along the 200-day simple moving average (SMA) at $1.2582.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

​AUD/USD hovers above support

​AUD/USD found support above Wednesday's $0.6499 low below which lies the $0.6481 to $0.6478 zone.

​For now the 55- to 200-day SMA at $0.6541 to $0.6544 act as resistance. Further up sits the $0.6559 late-March high.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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