EURUSD recently broke below its descending triangle support at 1.1130 and has dipped to a low of 1.0988 before showing signs of a pullback. Applying the Fib tool on the latest swing high and low shows that the 61.8% Fibonacci retracement level lines up with the broken support, which might now hold as resistance.
GBPUSD’s downward movement from 1.3445 extended to as low as 1.2914.
EURUSD is forming a sideways consolidation in a range between 1.1123 and 1.1326.
AUDUSD is testing the support of the price channel on 4-hour chart.
The Australian dollar initially rallied during the day on Thursday, but turned around to form a bit of a shooting star.
GBPUSD is facing the resistance of the downward trend line on 4-hour chart.
AUDUSD is in consolidation of the downtrend from 0.7731.
Following the recent improvement in UK data, the Bank of England was widely expected to sound a little more upbeat about the economic outlook with virtually no one forecasting any further easing of monetary policy.
The Australian dollar initially fell during the course of the session on Monday, testing the 0.75 level.
AUDUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 0.7755 had completed at 0.7489 already.
