EUR/USD, EUR/GBP and AUD/USD trade in four-to-six-month highs - IG

​AUD/USD advances to four-month high

​AUD/USD's advance to four-month highs and the 200-day SMA at $0.659 occurred as the Reserve Bank of Australia (RBA) stated that it still sees upside risks to inflation due to a further rise in prices of services and as the housing market remains healthy. This left the door open for further rate hikes and propelled the Aussie dollar higher. Next up is the 10 August high at $0.6616.

​Potential minor slips should find support around last Wednesday’s $0.6542 high. More significant support can be spotted between the late August to early November highs at $0.6523 to $6511. While the next lower $0.6453 low seen last Friday underpins, the recent upside breakout of the August-to-November bottoming pattern will remain valid.

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2023-11-21 11:39:37Z
CBMic2h0dHBzOi8vd3d3LmlnLmNvbS9lbi1jaC9uZXdzLWFuZC10cmFkZS1pZGVhcy9fZXVyLXVzZC0tZXVyLWdicC1hbmQtYXVkLXVzZC10cmFkZS1pbi1mb3VyLXRvLXNpeC1tb250aC1oaWdocy0yMzExMjHSAQA

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