FX levels to watch: EUR/USD, GBP/USD and AUD/USD
Risk appetite is in evidence across FX this morning, with gains for EUR/USD, GBP/USD and AUD/USD.
EUR/USD heads to $1.132 again
The EUR/USD price tried to break through $1.132 yesterday but failed, but an overnight pullback towards $1.13 has found buyers.
A fresh push to $1.132 may be in the offing, which would open the way to $1.145. A close below $1.128 would be a bearish development.
GBP/USD aims to break higher
Cable continues to trade within an ascending triangle, as rising trendline support from the 5 April low continues to support the price.
A close above $1.312 is needed to provide a positive break to the upside. Further declines below $1.307 would target $1.302 and then $1.299.
AUD/USD continues to gain
Despite the Reserve Bank of Australia's (RBA’s) dovish turn, AUD/USD is in an ascending channel, with higher highs and lows forming over the past two weeks.
The pair appears to have found some support in the $0.714-$0.715 area, and a fresh push higher from here targets $0.719. A close below $0.713 could signal that the channel has been broken to the downside.
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