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EUR/USD, GBP/USD and AUD/USD uptrend halted by major resistance

EUR/USD, GBP/USD and AUD/USD rally into major resistance zones, with a break higher required to bring bullish continuation signals.

EUR/USD rally takes pair into major resistance zone

EUR/USD has been on the rise of late, with the pair moving into a major long-term descending trendline.

The uptrend still remains intact unless we see a break back below the $1.1696 level, yet this is clearly a consolidation zone that we must exit from to bring a more confident trending market once more. As such, watch for a break through $1.1909 or $1.1696 to signal the next move from here. Given the current uptrend, a break through $1.1909 looks likely.

GBP/USD looks to break through key resistance

GBP/USD has been slowing down in its ascent as it engages with a confluence of both long-term trendline and horizontal resistance ($13170).

With that in mind, a break through this area of resistance would give a bullish continuation signal, while a drop through $1.2981 would bring a bearish outlook for the pair.

AUD/USD continues its ascent as price hits 17-month high

AUD/USD continued its ascent, with the pair tentatively reaching a fresh 17-month high this week.

Yesterday’s gains sought to continue that move, yet overnight weakness hindered the hopes of an imminent breakout. As such, watch for a break through the $0.7243 level to bring about a fresh bullish signal for the pair. Ultimately, the uptrend remains intact until we see a break through the $0.7076 support level.

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