EUR/USD attempts to rally
EUR/USD has bounced off $1.1717, and is pushing higher in early trading.
Overnight gains stalled at $1.18, but above here $1.1822 and then $1.1840 come into play as near-term targets. A failure to hold above this latter level would likely constitute another selling opportunity.
GBP/USD recovers from Monday lows
GBP/USD has rallied off the $1.34 level, and now needs to move back above previous support at $1.3450.
If this now becomes resistance, a turn lower would target the Monday low at $1.3390. Rallies towards $1.3510 could also be another selling opportunity.
AUD/USD rally extends into second day
AUD/USD has seen a significant rebound after finding a bottom around $0.7450. Further gains will target the area around $0.7650 that formed support in late March.
The progression of lower highs from the 2018 peak at $0.8136 remains in place, so a longer-term move above $0.78 is needed to suggest that this downtrend has been broken. The recovery above $0.7450, which puts the pair back above the December low, reinforces the idea that momentum has turned positive here.