EUR/USD, GBP/USD and AUD/USD all on the rise
A weakening US dollar has given EUR/USD, GBP/USD and AUD/USD the space to rally for the time being.
EUR/USD looks to extend recent gains
The rally continues for EUR/USD, with impressive gains over the past 48 hours.
Further moves higher target $1.123, while a fresh higher low would provide another buying opportunity, with a drop to $1.09 likely to encounter rising trendline support.
GBP/USD pushes on with rising trend
GBP/USD has also seen good gains since the middle of the week, creating a rising trend of higher highs and higher lows that looks set to continue.
With the 50- and 100-day simple moving averages (SMAs) rising, the direction of travel seems clear, with further gains targeting $1.236 and then $1.259.
AUD/USD boosted by reviving risk appetite
The rebound in risk assets has proven to be positive for AUD/USD too, with the pair forming an uptrend from the lows of last week.
Yesterday saw a dip to $0.588, with a rally from here establishing a new higher high. Further gains head towards $0.625, while a more bearish view requires a move back below $0.587.
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