The EUR/USD was seen to break past key support level of 1.18 yesterday, as the USD continued its momentum. This was also fueled by the increasing cautiousness and renewed risk aversion. leading to the ECB monetary policy meeting on Thursday.
Meanwhile, the AUD/USD is currently trading around 0.7210 levels and remains on the back foot due to factors such as Sino-American tension, Brexit uncertainties as well as US Stimulus Deadlock. A break of an ascending trend line from June 30 also exerts additional downside pressure on the Aussie pair.
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