Skip to content

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

Dollar strength continues to hobble EUR/USD, GBP/USD and AUD/USD. 

Video poster image

EUR/USD continues in main direction

While the price rallied off the lows of last week, it has still failed to change the broad direction of travel for EUR/USD.

Gains have faltered at $1.2350, so if no further upward progress develops a turn lower looks likely. Even if it does rally, it must clear $1.2450 to break the downtrend from the February high.

GBP/USD balks at downtrend line

GBP/USD looks to be shying away from the downtrend line that has held since the beginning of February.

A turn lower targets $1.38, and then $1.37 in the short term. A close above $1.39 might indicate that a break of the current downtrend is in the offing.

AUD/USD hits main point of resistance

We have seen a solid bounce for AUD/USD off the lows from the beginning of March, but just as the late February rally failed to break $0.79, the same appears to be happening now.

A sustained downturn would target $0.7810 and then $0.7750. Above $0.79 the $0.80 peak from mid-February comes into view. 

This information has been prepared by IG, a trading name of IG 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. 

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.

Find articles by writer