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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

​​AUD/USD, EUR/USD and GBP/USD rally on weaker post Fed US dollar​​

​​​AUD/USD, EUR/USD and GBP/USD resume their ascents as the greenback takes a hit amid the Fed’s dovish stance.​​

AUD Source: Bloomberg

AUD/USD resumes its ascent

AUD/USD is heading swiftly to the December-to-March uptrend line at $0.663, above which beckons the current March peak at $0.6667.

Potential slips may find support around the $0.6624 late January high or the 22 February high at $0.6595.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

​EUR/USD rallies post Fed meeting

EUR/USD rallied from its 200-day simple moving average (SMA) at $1.0839 which acted as support over the past two days. The December-to-March tentative downtrend line at $1.0953 is now in sight ahead of the $1.0981 current March peak and the psychological $1.10 mark.

​​Minor support can be found around the 22 February high at $1.0888.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

GBP/USD is heading back up again

GBP/USD's has bounced off its September 2022-to-March uptrend line which offered support on Tuesday and is heading back up again, targeting the $1.2823 mid-March high. Further up beckons the $1.2894 current March peak.

Potential lips may find support between the 24 January to 2 February highs at $1.2775 to $1.2772.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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