EUR/USD bounce slows down
EUR/USD’s bounce off the lows at $1.2250 appears to be running out of steam, with the downtrend from the February high still intact.
If a new lower high is created then we look to $1.2250 and then $1.2165 as downside targets.
GBP/USD rally struggles with barrier
News of a transition deal between the UK and EU prompted another rally here for GBP/USD, but for now the $1.4070 level remains a barrier.
Above this, $1.4145 comes into play. A turn lower would target $1.3943 and then $1.3836.
AUD/USD fails to hold constant rebound
There has been little sign of a sustained rebound here for AUD/USD, although the price continues to hold $0.7694.
If this breaks, then $0.7473 – $0.7519 come into view as potential areas of support, with $0.7654 along the way. Any rebound that fails to clear $0.7920 would still mark a higher low in the current downtrend.