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FX levels to watch – EUR/USD, GBP/USD, AUD/USD

Sterling is still unable to move higher, but both the euro and the Aussie have found new bullish momentum.

Dollar and pound
Source: Bloomberg

EUR/USD pushes back to highs

Euro bulls have succeeded in pushing EUR/USD back to the $1.1819 highs from the beginning of the week. A close above this level would then open the way to the previous highs at $1.1880.

With this removed, a move to the $1.20 area could be in play. A failure to hold the $1.1819 area would signal a push back to the $1.1740 lows from yesterday. 

EUR/USD chart

GBP/USD fails to rise

A data-heavy week for sterling has failed to really lift GBP/USD, with the push to $1.33 at the end of last week a distant memory. A series of lower highs from that peak last Friday is now in place, with the overnight rally turning down from $1.3220.

A push below $1.3140 opens the way to $1.30. A close above $1.3220 is needed to reverse the current bearish outlook. 

GBP/USD chart

AUD/USD risen higher by buyers

Buyers have stepped in over the past two days, pushing AUD/USD back to $0.7880. A move through $0.79 would open the path towards $0.8075, the high from the summer.

Dips that hold above $0.78 should continue to be buying opportunities. A close below $0.7750 is needed to reverse the bullish outlook here. 

AUD/USD chart

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