Your capital is at risk. CFDs can result in losses that exceed your initial deposit. Please ensure you fully understand the risks involved. Your capital is at risk. CFDs can result in losses that exceed your initial deposit. Please ensure you fully understand the risks involved.

EUR/USD and GBP/USD decline as AUD/USD fights to hold its ground

The euro and sterling are weakening against the dollar, while the Aussie is refusing to head lower despite the recent lower high.

EUR/USD on the back foot

Yesterday’s EUR/USD reversal back below $1.22 does look to have given the sellers the upper hand, with further losses since then putting $1.21 back into view.

The lower high at $1.22 seems to confirm the bearish view, and will mean that buyers need to get the price back above this level to restore a bullish view.

GBP/USD heading to lower bound of trading range

GBP/USD having dropped back from $1.42 once again the price is now heading back to the $1.41 support zone.

This will need to break for a more bearish view to prevail; at present the rangebound trading of the past few sessions continues to prevail.

AUD/USD holds its ground

While the AUD/USD lower high of earlier in the week is still intact, there has not yet been much in the way of downside momentum.

Losses have been stemmed above $0.772, so a move below here would reinforce the bearish view and bring $0.77 and lower into view. Alternatively, buyers need to move the price back above $0.776 to break the sequence of lower highs and provide a more near-term bullish view.


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