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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/USD, GBP/USD, and AUD/USD push higher as sentiment improves

EUR/USD, GBP/USD, and AUD/USD push higher as risk sentiment improved, with further dollar downside looking likely.

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EUR/USD rallies back into key resistance

EUR/USD has pushed higher once more, with the recovery seen since last Wednesdays low taking us back towards the crucial $1.2177 resistance level.

A break through that level brings about the highest reading since April 2018. As such, while the short-term trend points towards further upside, it makes sense to await a break through $1.2177 to bring expectations of another push higher from here.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD breaks out of downtrend on Brexit hopes

GBP/USD has managed to break through the $1.3478 swing high this morning, as growing hope of a Brexit deal helped to lift sentiment.

The exit from the recent trend of lower highs does provide us with a more positive outlook from here, with a move back below $1.328 required to bring about a more bearish view. However, there is likely to be plenty of volatility ahead given the importance and uncertainty around Brexit talks.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD rises ahead of likely bullish breakout

AUD/USD has rallied back into the $0.7578 resistance level this morning, coming off the back of a retracement over Monday night.

The uptrend does still remain intact despite that pullback, with the rally back into $0.7578 highlighting the potential for another bullish breakout. With that in mind, watch out for a potential breakout from here, with a rise through resistance paving the way for further upside.​

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

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