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FX levels to watch – EUR/USD, GBP/USD, AUD/USD

Markets look on as the dollar weakens, continuing the uptrend for the euro, sterling and the Aussie.

EUR/USD keeps on rallying

EUR/USD got close to $1.23 yesterday, with the bullish move firmly intact. If it closes above $1.21 this month, then we have a firm break above the highs from September.

This would bring the January 2012 low at $1.2624 into play. If this downside move accelerates, we would look towards support at $1.21. 

GBP/USD hits fresh high

We saw the $1.38 level broken for the first time since June 2016, as the rally goes on for GBP/USD.

A drop towards $1.3650 would likely see more buying pressure emerge, and even a dip down to $1.35 would still be a higher low in the current uptrend. 

AUD/USD eyes up 2017 highs

Like the other two pairs, AUD/USD continues to rally, although it has yet to clear the 2017 high at $0.8125.

However, this looks like a matter of time. Support is possible around the $0.78-$0.7850 area, and below this, $0.7750 comes into play. 

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