EUR/USD, GBP/USD and AUD/USD weakness likely to continue
EUR/USD, GBP/USD and AUD/USD declines ease, yet further weakness looks likely.
EUR/USD sell-off likely to continue
EUR/USD has been hit hard of late, with traders flocking to the US dollar. This is likely to continue, with a break below yesterday's low needed to send this bearish train back in motion.
Should we see any upside from here, it is likely to be stifled by the continued creation of lower highs. Thus, a bearish outlook remains in place unless we see a break through $1.0982 resistance.
GBP/USD consolidates after sharp declines
GBP/USD continues to lose ground, with the pair hitting fresh 35-year lows this week. The price is consolidating this morning, yet it is likely we will soon see further downside to continue the trend.
A beak below the $1.1451 support level would bring the next sell signal, while a rise through $1.1663 would point towards a retracement of the sell-off from $1.2128 level coming into play.
AUD/USD rebound brings potential selling opportunity
AUD/USD has managed to rebound back towards trendline resistance overnight, bringing a potential selling opportunity within a clear downtrend.
A rally through $0.5816 would bring about a more bullish view, yet bearish positions are preferred until such a break occurs.
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