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FX levels to watch: EUR/USD, GBP/USD and AUD/USD

EUR/USD, GBP/USD and AUD/USD are all holding above recent lows, but the broadly bearish view still prevails.

EUR/USD rallies off lows

EUR/USD’s rally off the $1.112 zone has been seen, but it will likely remain a possible selling opportunity.

An immediate target is $1.116, and from there $1.12. A close below $1.112 would mark a fresh push to the downside.

GBP/USD still pushing lower

GBP/USD has stabilised around $1.288, although the downtrend remains intact.

A close above $1.292, and then $1.296, would break the sequence of intraday lower highs. However, a failure to push on above $1.292 would mark another selling opportunity.

AUD/USD holds above $0.70

The sellers have failed to hold the AUD/USD price below $0.70, but the rebound needs to move back above $0.705 to suggest more upside is likely.

A close below $0.699 would open the way for further downside.

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