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EUR/USD, GBP/USD and AUD/USD declines ease off

The dollar has held its ground in the wake of the FOMC decision, holding back gains for the euro, sterling and the Aussie.

EUR/USD still under selling pressure

After slumping to a new lower low for the current downtrend yesterday, EUR/USD has recovered slightly.

However, a bigger rebound will require a move back above $1.175. Additional declines target $1.1617.

GBP/USD holds above $1.36

Here GBP/USD has stabilised too, as it returns to the $1.36 area.

Will it be able to make it bounce a third time? This would argue for a return to $1.39, with the bearish view suspended unless we can see a drop below $1.36.

AUD/USD steadies after losses

AUD/USD has stabilised for now around $0.724, but it is not yet clear that a further bounce will materialise.

However, some early gains are providing hope for the buyers that a bounce is developing. A move back below $0.721 restores the bearish view.

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