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 declines bring key support into play

EUR/USD, GBP/USD, and AUD/USD decline towards crucial support levels, with a rebound required to avoid breaking into a more bearish outlook.

EUR/USD on the rise from Fibonacci level

EUR/USD is on the rise following a decline into the 76.4% Fibonacci retracement level and, with the pair still within a wider uptrend, there is a chance we could see a move higher from here.

A fresh bullish signal would come into play with a break through the $1.1883 level. Until then, the short-term deterioration we have seen could continue to play out. As such, short-term we are likely to see further upside. However, we need to break from this intraday trend of lower highs to negate the notion that this is another retracement before we move lower again.

GBP/USD consolidates after decline into key support

GBP/USD saw sharp declines towards the end of the week, with Brexit uncertainty doing little to help sterling.

That has taken the pair back into the crucial $1.3064 support level. With that level providing a crucial marker for GBP/USD today, we need to keep an eye out for a break or rebound around this level to determine sentiment as we move into the week.

AUD/USD back into trendline support yet again

AUD/USD has declined into inside trendline support once again today, with the pair starting to build upward momentum again as a result.

That inside trendline has provided consistent support over the past month, with another rebound looking likely as a result. With that in mind, a bullish outlook is in play here, where a break back below the $0.7136 level would start to build a more bearish outlook.


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.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.