EUR/USD gains stall, as GBP/USD and AUD/USD push higher
While the euro has run into resistance against the dollar, GBP/USD and AUD/USD have found renewed strength.
EUR/USD struggles after Wednesday retreat
The bounce of EUR/USD has faltered, with the price dropping back from Wednesday’s highs above $1.196.
This raises the prospect of a renewed move back towards $1.185, where the sell-off stopped last week. Buyers will need to get the price back above $1.195 to preserve a more bullish view in the short term.
GBP/USD targeting $1.40 ahead of BoE meeting
GBP/USD has managed to hold on to almost all the gains of the week so far, and crucially appears to be carving out a higher low intraday as well.
A renewed move above $1.40 solidifies the bullish view and brings $1.42 into view. Sellers will hope that the price can drop back below $1.39 in order to open the path to $1.38 and the low from last Friday.
AUD/USD still climbing
AUD/USD looks strong still, with the price marching higher over the previous three sessions.
A series of intraday higher highs and higher lows continues to point towards a bullish outlook, with $0.765 as the first target as it claws back lost ground from the middle of the month.
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