Ascending Price Channel

AUD/USD remains constructive after a sharp fall in the US Dollar following the US Treasury’s support signal for the long end of the bond market. The pair is consolidating above 0.7100, with technical traders watching 0.7130 as the immediate breakout area and 0.7153 as the next key resistance level.

GBP/USD is trading near a dense resistance zone after a bullish channel breakout failed to deliver a decisive extension. Traders are watching whether the pair rejects 1.3375-1.3405 or slides toward support around 1.3297 and 1.3300.