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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​​​AUD/USD, EUR/GBP and GBP/USD rally post Powell remarks​​

​​​AUD/USD, EUR/GBP and GBP/USD as greenback depreciates following remarks by Fed Chair Jerome Powell on the inappropriateness of lowering rates before "greater confidence that inflation is moving sustainably down to 2%".

AUD Source: Bloomberg

​​​AUD/USD rallies strongly

AUD/USD rallies from this week's low at $0.6481, made marginally above its $0.6478 March low, and is about to test its December-to-April downtrend line at $0.6594. If overcome, the $0.6624 to $0.6635 region will be next in line.

​​Support is seen along the 55- and 200-day simple moving averages (SMA) at $0.6546 to $0.6544.

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

​EUR/GBP grinds higher

EUR/GBP is gradually advancing from last week's £0.8531 low and still targets the 200-day SMA at £0.8605.

​​A fall through the £0.8531 low would have bearish implications, though, and put the £0.8499 February low back on the cards.

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

​GBP/USD bounces off support

GBP/USD nears the 55-day SMA at $1.2671, having levelled out slightly above key support which lies between the December-to-February lows at $1.2519 to $1.25.

Above the 55-day SMA at $1.2671 sits the 22 February high at $1.271.

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

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