AUD/USD, EUR/USD and GBP/USD under pressure as greenback appreciates
AUD/USD, EUR/USD and GBP/USD under pressure as greenback appreciates, just as it did in Q1 2024.
AUD/USD nears support
AUD/USD slips towards its $0.6478 March low which may offer short-term support. Below it lies the February low at $0.6443. This level will remain in play as long as no bullish reversal above $0.6634 is seen.
EUR/USD drops further
EUR/USD's descent is taking it towards the $1.0724-23 December and early February lows below which lies the $1.0695 February low.
While the $1.0797 to $1.0802 late February and March lows aren't overcome, the downtrend remains firmly entrenched.
GBP/USD falls out of bed
GBP/USD's fall through the 200-day Simple Moving Average (SMA) at $1.2586 pushes key support between the December-to-February lows at $1.2519 to $1.25 to the fore.
Resistance is now seen along the 200-day SMA at $1.2586.
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