EUR/USD retracement looks to give way to further selling
EUR/USD managed to rebound back towards the $1.1526 resistance level yesterday, with the pair looking likely to turn back towards the downside following a 61.8% retracement.
The recent downtrend and break below $1.1526 points towards further downside to come, with a bearish view in place unless we see a rally above $1.1594.
GBP/USD rallies into stochastic resistance
GBP/USD has been gaining ground through the second half of the week, bringing the price into the upper Bollinger band.
While the pair would provide a more bullish outlook with a break above $1.3117, there is a strong chance we will see the pair reverse lower following this recent rebound.
AUD/USD breaks below key support
AUD/USD has maintained the wider bearish momentum, with the break below $0.7085 providing confirmation that the wider bearish trend remains in place.
A break above the $0.7097 level would bring heightened expectations of another retracement. Until then, further downside seems likely from here.