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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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AUD/USD, EUR/USD and GBP/USD regain lost ground

​AUD/USD, EUR/USD and GBP/USD regain lost ground​ amid US dollar depreciation due to weaker than expected US PMIs and as Australian Q1 inflation rate slows less than expected.​​

USD Source: Getty Images
Forex United States dollar GBP/USD AUD/USD EUR/USD Euro
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​AUD/USD rally continues

​Australian quarter one (Q1) inflation slowing less than expected has helped AUD/USD recover further.

​AUD/USD continues to rally from Friday's $0.6363 low and has reached the 200- and 55-day simple moving averages (SMA) at $0.6527-to-$0.6528 which may short-term cap. If not, the late March high at $0.6559 will be next in line.

​Previous resistance may now, because of inverse polarity, offer support at $0.6481-78.

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

​EUR/USD probes resistance

​The German Ifo business climate at 9am BST will be closely watched by traders in the euro.

EUR/USD entered the key $1.069 to $1.0725 resistance zone which is expected to cap. Slips may find support around Thursday's $1.069 high.

​Were a rise above $1.0725 to be seen, the $1.0791-96 would be back in sight, neutralizing our medium-term outlook.

EUR/USD chart Source: TradingView.com

​GBP/USD bounces off five-month lows

​GBP/USD's strong recover on Monday may lead to Thursday's high at $1.2485 being revisited. Above it lies major resistance at $1.25 to $1.252.

​Slips may find support around the mid-April $1.2406 low.

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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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