FX levels to watch – EUR/USD, AUD/USD

Dollar strength has knocked back both the euro and the Aussie this morning.

Source: Bloomberg

EUR/USD suffers sharp losses

EUR/USD continues to head towards the November rising trendline.

Support may be found around $1.1850. Alternately, with the price already oversold on the four-hour chart, we may see a bounce around $1.1950. The next target would be $1.2092.

AUD/USD falters near recent highs

It has been a relentless move higher for AUD/USD since mid-December.

However, the price stumbled at $0.7877 last week and has dropped back since then. Support at $0.7807 has yet to be tested. A fresh push above Friday’s highs targets $0.7897 in the short term.

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