EUR/USD, GBP/USD and AUD/USD all under pressure

Dollar strength has seen EUR/USD, GBP/USD and AUD/USD all begin to lose forward momentum.

Euro Source: Bloomberg

EUR/USD turning lower from resistance

Any further upside continues to contain at $1.105 for EUR/USD.

As a result, we look for the price to roll over and target $1.093. A move through $1.109 violates this bearish view and suggests a push towards previous support at $1.112.

EUR/USD chart Source: ProRealTime

EUR/USD chart Source: ProRealTime

GBP/USD stuck below $1.24

The GBP/USD pair continues to hit its head against $1.2366.

This stalling of progress raises the prospect of a turn lower should the price break back below $1.225. Alternatively, a break through $1.24 would mark a notable bullish development, opening the way to $1.26.

GBP/USD chart Source: ProRealTime

GBP/USD chart Source: ProRealTime

AUD/USD rally begins to stall

The price of AUD/USD has rebounded from its lower low at $0.67, but could be at risk of creating a lower high.

The price needs to move back above $0.70 to confirm the sustained rally. In the mean time, a move back below $0.683 would be a bearish development.

AUD/USD chart Source: ProRealTime

AUD/USD chart Source: ProRealTime


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