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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.

​​​EUR/USD, EUR/GBP try to stabilise while AUD/USD drops​​​

​​​EUR/USD, EUR/GBP try to stabilise while AUD/USD is on track for its fourth straight day of decline.​​

USD/GBP Source: Adobe images

​​​EUR/USD is trying to level out

EUR/USD saw seven straight days of falling prices but is trying to stabilise above Friday's $1.0952 low with the $1.1002 September low now acting as resistance. Below $1.0952 lie the mid-July high at $1.0948 and the early June high at $1.0916.

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

​EUR/GBP sidelined

EUR/GBP continues to range trade below last week's near two-week high at £0.8434, made close to the 55-day simple moving average (SMA) at £0.8444, and Friday's low at £0.8354. Below this level sits the £0.8322-11 support zone.

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

AUD/USD drops four days in a row

AUD/USD is on track for its fourth straight day of falls whilst approaching the 55-day SMA at $0.6705 and the 22 August low at $0.6698. Further down lies the September trough at $0.6623. Minor resistance can now be seen at the 19 September low at $0.6739 and at the 26 September low at $0.6819.

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

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.

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