CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

EUR/USD, GBP/USD, and AUD/USD await further dollar weakness

EUR/USD, GBP/USD, and AUD/USD are in consolidation-mode as we await another bout of dollar weakness.

​EUR/USD falls back into trendline support

EUR/USD has dropped back into a confluence of trendline and horizontal support following a rise into the $1.2243 peak from late February.

The ongoing uptrend seen over the course of the past two months provides expectations of further upside from this zone. Conversely, a break below the $1.2159 level would bring expectations of a wider retracement into the $1.2133-$1.2102 support zone.

GBP/USD consolidates below key support

GBP/USD has once again failed to break through the $1.422 resistance level today, with the pair remaining in consolidation mode below the key $1.4241 level.

A break up through that level does seem likely before long, yet we could see another bout of short-term weakness before then. In any case, the pair remains within a bullish trend unless the price breaks below the $1.40 handle.

AUD/USD falls back into trendline support

AUD/USD has been in consolidation mode over the course of the past six months, with the pair largely trading within the $0.7690-$0.7815 zone over that period.

With the price having dropped back into trendline support, there is a good chance we continue that consolidation by moving upwards today. With that in mind, a move higher looks likely today, with a break below the $0.7706 level required to end the latest trend of higher lows.


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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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