EUR/USD falls as GBP/USD and AUD/USD recover
The euro remains under pressure against the dollar, while AUD/USD attempts to continue its ongoing rally and GBP/USD pushes higher in the wake of the BoE meeting this morning.
EUR/USD continues to fall
EUR/USD remains under pressure from the beginning of the week, moving steadily lower.
Having broken trendline support on Monday the downtrend has intensified, with little in the way of near-term rebounds. A move through $1.082 would break trendline resistance and bring $1.092 into view. Further declines head towards the late-April low at $1.073.
GBP/USD spikes following BoE meeting
GBP/USD has spiked this morning following the Bank of England (BoE) decision, breaking through trendline resistance from the 29 April high.
Further gains head towards $1.248, and from there on to $1.265. A renewed push lower heads towards $1.225 and the 21 April low.
AUD/USD rallies from key support
A trading range has developed here, as the AUD/USD price finds support for a second time this week at $0.638, while it has yet to break resistance at $0.647.
A move above here clears the way towards last week’s highs at $0.657. Alternatively, further declines head towards $0.625 if $0.638 is broken.
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