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.

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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