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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.

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.

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.

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.

This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Any research provided should be considered as promotional and was prepared in accordance with CFTC 1.71 and designed to promote the independence of investment research. See our Summary Conflicts Policy, available on our website.

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