EUR/USD, GBP/USD and AUD/USD all under pressure once more

US dollar strength continues to be felt across forex markets, driving down key pairs.

EUR/USD falls to six-week low

EUR/USD losses have slowed, but it remains below the 50-day simple moving average (SMA), at $1.177.

However, with the overall trend higher still intact, we watch for any near-term recovery above $1.178. Further declines could bring the $1.1425 level into play once again.

GBP/USD falls below 200-day SMA

There seems no stopping the decline for GBP/USD, as the reversal from the 50-day SMA at $1.3011 goes on.

With the price now below the 100-day and 200-day SMA the sellers are firmly in control, and now target $1.25. Intraday rallies could continue to be selling opportunities, with a more bullish view requiring a recovery above $1.28.

AUD/USD correction goes on

The losses continue for the AUD/USD, taking the pair to its lowest level since mid-August.

Like EUR/USD, this looks more like a pullback in an uptrend rather than something more serious. As a result, while further losses may push the pair down towards the 100-day SMA ($0.6997), we watch for a recovery in due course. A rally back above $0.72 would provide that trigger, and put the pair on course to target $0.74.


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