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EUR/USD Prints Ninth Consecutive Higher High

FOREX
  • EURUSD has started the Tuesday session on the front foot, pushing to a new multi-week high. This puts prices on track to test the first key resistance at the 1.1274 level. The current upleg was initially triggered by the move above 1.1095, the Apr 26 high and key resistance.
  • EURGBP’s recovery off the July low has improved the previously bearish outlook, with the 50-dma the next key level looking higher. The 50-dma at 0.8610 was last crossed in April, and a break above here would be constructive.
  • A strong impulsive rally in AUDUSD last week resulted in the break of a number of key short-term resistance points. The move highlights a stronger short-term bullish theme and price remains within range of resistance at 0.6900, the Jun 16 high.
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