EUR/USD, GBP/USD and AUD/USD continue to push higher
EUR/USD, GBP/USD and AUD/USD continue to gain ground, with risk-on sentiment continuing to drive the dollar lower.
EUR/USD continues its push higher
EUR/USD has been on the rise this week, with the pair breaking through the November high to bring about the highest reading in almost three months yesterday.
We would need to see a break back below the prior swing low of $1.1882 to negate the current short-term uptrend. Until then, further gains seem likely.
GBP/USD heads higher once more
GBP/USD has been gaining ground over the course of the week, with the pair posting a deep retracement towards the end of last week.
The fact that we continue to create higher lows does highlight the potential upside we could see from here, with a bullish outlook in play unless we see a break back below the $1.3304 swing low.
AUD/USD continues to gain ground, bringing multi-month highs
AUD/USD has managed to push through the $0.7374 resistance level this morning, with fears over a trade spat between Australia and China doing little to dent appetite for this pair.
The break through the likes of $0.7352 and $0.7325 would point towards a retracement period coming into play here. However, until that happens it looks likely we are going to see further gains come into play here.
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