EUR/USD, GBP/USD and AUD/USD push higher, as uptrends persist
EUR/USD, GBP/USD and AUD/USD push higher, with year-long uptrends expected to continue apace as the dollar comes under pressure
EUR/USD looks increasingly likely to break higher
EUR/USD has been attempting to push higher after a period of consolidation for the pair. That consolidation comes off the back of a bearish phase, with a head and shoulders formation completed at the beginning of the month.
However, with the price pushing up towards the $1.219 resistance level, a break through that point would signal the potential for a continuation of the wider bullish trend seen over the past year. As such, a rise through $1.219 raises that bullish story once again, with the latest short-term pullback looking likely to provide that next leg higher unless the price breaks below the $1.2091 swing low.
GBP/USD continues its incessant rise
GBP/USD is pushing higher yet again today, with the pair going from strength to strength. That bullish trend shows few signs of slowing down, with the bulls expected to remain in charge for some time yet.
A break below the $1.383 level could point towards some form of wider pullback coming into play. Until then, there is a strong chance we see further upside from here.
AUD/USD consolidates after recent push higher
AUD/USD has been on the rise over the course of the past year, with the latest push through $0.782 providing another continuation signal for that wider trend.
While the price has been consolidating since, we are likely looking at a pause before we continue to move towards the upside. With that in mind, a bullish view holds unless the price breaks below the $0.7724 support level.
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