FX levels to watch: EUR/USD, GBP/USD and AUD/USD
EUR/USD, GBP/USD and AUD/USD are all holding above recent lows, but the broadly bearish view still prevails.
EUR/USD rallies off lows
EUR/USD’s rally off the $1.112 zone has been seen, but it will likely remain a possible selling opportunity.
An immediate target is $1.116, and from there $1.12. A close below $1.112 would mark a fresh push to the downside.
GBP/USD still pushing lower
GBP/USD has stabilised around $1.288, although the downtrend remains intact.
A close above $1.292, and then $1.296, would break the sequence of intraday lower highs. However, a failure to push on above $1.292 would mark another selling opportunity.
AUD/USD holds above $0.70
The sellers have failed to hold the AUD/USD price below $0.70, but the rebound needs to move back above $0.705 to suggest more upside is likely.
A close below $0.699 would open the way for further downside.
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