AUD/USD pushes higher while EUR/USD and GBP/USD move sideways
There has been little movement in the euro and sterling, but AUD/USD continues to gain as risk appetite remains healthy.
EUR/USD consolidates above $1.1350
EUR/USD continues to hold the $1.1350 area, as it has done for the previous two sessions.
This is also around the 200-day simple moving average (SMA), and if the pair continues to build a base a push back above $1.14 may be in the offing, targeting $1.1447. Below $1.135 the price heads towards $1.13 and $1.12.
GBP/USD trades in narrow range
While the price of GBP/USD has failed to breach $1.278, declines over the past two days have paused at $1.2665.
Short-term bounces have faltered at $1.27, so a break of this narrow range is needed to establish a new direction.
AUD/USD continues to climb
A steady rally goes on here, with the price of AUD/USD touching a three-week high. Volatility has been low, and small pullbacks remain the order of the day.
Gains in early June stalled at $0.702, although this also coincided with the 50-day SMA, and this has already been breached this time around. The positive view remains in place unless we see a move back below $0.692.
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