EUR/USD and AUD/USD in retreat as GBP/USD tries to stabilise
The sellers are back driving EUR/USD and AUD/USD lower, but in GBP/USD attempts at fresh losses are being met with buying pressure.
EUR/USD on the back foot again
After two days of losses, EUR/USD is attempting to steady itself, but the reversal on Tuesday continues to point towards a renewed bearish view.
The intraday bounce currently in play would need to end up moving back above $1.185 to reverse the negative impression created by the drop of the past 48 hours. Further declines head towards $1.17 in the short term.
GBP/USD fights to hold its ground
The buyers here have prevented any downside below last week’s low, giving hope for the bulls that the GBP/USD can now begin to move higher once again. Gains above $1.39 would be a good first step in creating a durable low.
A fresh drop would target a move below $1.37 that would put $1.366 and the 200-day simple moving average (SMA).
AUD/USD testing recent lows
After some stabilisation yesterday, AUD/USD is on the back foot once again, and it looks like this will finally open the way to $0.736 and $0.731.
A reversal above $0.755 would be required to cancel out this bearish view, and for the moment, the sellers seem to be firmly in charge.
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