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CFDs are complex instruments. 70% 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.

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

FOMC minutes have put more life into the US dollar, although sterling has recovered slightly this morning.

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EUR/USD keeps getting sold

EUR/USD intraday rallies continue to be sold, as we have seen over the past 24 hours.

Thus it seems we will push to $1.22 and $1.2166. Further declines from here would put the $1.21 level in play, and then the rising trendline from the April low.

GBP/USD finds support

The same pattern prevails here for GBP/USD, but the downward move is finding some buying so far this morning.

A move higher would target $1.40 and then $1.4150, with the January high at $.14345 the next big target. More substantial declines still target $1.3770 and then $1.3659.

AUD/USD attempts to rally

The sharp losses of the past few days have given way to some small gains for AUD/USD around the $0.78 level.

A bounce from here would target the $0.7850 zone, and then on to $0.80, while further declines bring $0.7750 into play.

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