After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.
EUR/GBP can get higher
Information is not investment advice
The British pound is hurt by concerns that Britain would reach the end of an 11-month transition period without agreeing a trade deal with the EU. EUR/GBP formed an interim bottom in the 0.8930 area and closed above the 50-day MA at 0.8490 on Monday. If the pair breaks above the 61.8% Fibo of the decline seen in the second half of January in the 0.8515 zone, it will be able to gain to 0.8550 (78.6% Fibonacci) and 0.8590 (January and December highs).
GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum.
CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.
As today is the last day of the first quarter, let’s look at the performance of the major currency pairs and analyze what may come next for them.
WTI is at 17-year lows. Is it the end?
FLAGS EURUSD M30 ARROW Resistance 1…