SP Global

EUR/USD extended its recovery to its strongest level since June 17 as Eurozone PMI data improved and crude oil stayed under pressure. Technical traders remain focused on support near 1.1487 and a potential move toward 1.1620 if momentum holds.

GBP/USD traded around 1.3450 as markets looked ahead to services PMI releases from both the United States and the United Kingdom. Technical traders are watching whether a developing bullish flag can keep upside pressure in place toward 1.3550 or whether a break below 1.3400 weakens the setup.

AUD/USD traded flat near 0.7040 on Wednesday but remained well above last month’s 0.6865 low as risk sentiment improved. Technical traders are watching 0.7100 as the next upside level, while a move below 0.7000 would weaken the bullish case.

EUR/USD retreated to 1.1515 after stronger-than-expected US manufacturing readings reinforced near-term dollar demand. Technical traders are watching the 1.1483 neckline area and the 1.1620 resistance level as the next key markers.

AUD/USD has advanced to its highest level since June 17, extending a rebound from its June low as traders assess US policy signals, Middle East risks and upcoming economic data. Technical traders are watching whether the pair can clear resistance at 0.7100 or slip back toward support near 0.6920.

AUD/USD pushed above a closely watched resistance area after weaker US services data added pressure on the dollar. Traders are now focused on Federal Reserve minutes, Fed commentary, 0.6865 support and 0.7100 resistance.

AUD/USD climbed for a second consecutive day to its highest level since June 23rd as the US dollar weakened after softer jobs data. Technical traders are watching whether resistance near 0.7050 caps the rebound or whether support around 0.6850 comes back into focus.