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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. 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 financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

FX levels to watch – EUR/USD, GBP/USD, AUD/USD

While the euro and Aussie continue to remain weak, sterling is enjoying a strong bounce. 

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EUR/USD bounces, but still heading downwards

Further losses yesterday saw EUR/USD test the $1.23 level.

For now a bounce is in progress, but with the downtrend line still existence we would need to see a move back above $1.24 to reverse the bearish view.

GBP/USD looks to try and hit $1.40

GBP/USD continues to hold above the 50-day simple moving average (SMA) at $1.3918, and another run at $1.40 looks to be on the cards.

Above this, $1.4070 and then $1.4145 will be targets to watch. A close back below $1.3850 is needed to put a bearish outlook on the pair.

AUD/USD meets obstacles to recovery

AUD/USD is rebounding from big losses yesterday, but only modestly, and it now faces hurdles at $0.78, $0.7835 and $0.7850.

Further declines bring $0.7750 into view, and then $0.7712.

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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