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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

​​​​EUR/GBP and AUD/USD surge while USD/CAD edges lower

​​The US dollar has come under pressure following the latest Fed decision, while the euro is making headway against the pound. ​

Euro Source: Bloomberg

​​​EUR/GBP on the up again

EUR/GBP has resumed its march higher it seems, after dropping towards the 200-day simple moving average (SMA) yesterday.

​​The early October bounce faltered as it headed towards £0.874, so a close above this level would help to reinforce the bullish view by creating a higher high.

​A close below £0.868 would see the price drop below trendline support, a possible bearish signal.

EUR/GBP chart Source: ProRealTime
EUR/GBP chart Source: ProRealTime

AUD/USD surges after Fed meeting

​A more cautious Federal Reserve (Fed) meeting has allowed AUD/USD to rally, after the past four weeks of consolidation.

​​Yesterday’s surge took the price through trendline resistance from early August, and also sees it above the 50-day SMA for the first time since late July.

​Additional gains target the $0.65 area, which marked a zone of resistance over the past twelve weeks. A reversal back below $0.635 would point towards a renewed test of the $0.63 support zone.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

USD/CAD drops back

​After a solid rally during October, USD/CAD may come under pressure following last night’s Fed meeting.

​A close below C$1.38 might provide the catalyst for a drop back towards trendline support from early October, or towards the rising 50-day SMA.

​A close above C$1.3898 would mark a new multi-year high, with the price moving above the peak from August 2022.

USD/CAD chart Source: ProRealTime
USD/CAD chart Source: ProRealTime

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