EUR/USD, GBP/USD, and AUD/USD push higher as sentiment improves
EUR/USD, GBP/USD, and AUD/USD push higher as risk sentiment improved, with further dollar downside looking likely.
EUR/USD rallies back into key resistance
EUR/USD has pushed higher once more, with the recovery seen since last Wednesdays low taking us back towards the crucial $1.2177 resistance level.
A break through that level brings about the highest reading since April 2018. As such, while the short-term trend points towards further upside, it makes sense to await a break through $1.2177 to bring expectations of another push higher from here.
GBP/USD breaks out of downtrend on Brexit hopes
GBP/USD has managed to break through the $1.3478 swing high this morning, as growing hope of a Brexit deal helped to lift sentiment.
The exit from the recent trend of lower highs does provide us with a more positive outlook from here, with a move back below $1.328 required to bring about a more bearish view. However, there is likely to be plenty of volatility ahead given the importance and uncertainty around Brexit talks.
AUD/USD rises ahead of likely bullish breakout
AUD/USD has rallied back into the $0.7578 resistance level this morning, coming off the back of a retracement over Monday night.
The uptrend does still remain intact despite that pullback, with the rally back into $0.7578 highlighting the potential for another bullish breakout. With that in mind, watch out for a potential breakout from here, with a rise through resistance paving the way for further upside.
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