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 recovering lost ground

EUR/USD, GBP/USD and AUD/USD regain lost ground, but how long will the rebound last?

EUR/USD on the rise, yet risk remains of another move lower

EUR/USD has been on the rise over the course of the week, with the price tentatively pushing through the 76.4% Fibonacci resistance level at $1.1771.

With trendline resistance also coming into play here, there is still a good chance we could see the bears return. A break back below $1.1726 would bring greater confidence that the price is going to start turning lower from here. Alternatively, a rise through $1.1804 would point towards a wider upward move for the pair.

GBP/USD attempting to build on recent rebound

GBP/USD has been on the front foot over the course of the week, with the price rising back towards the confluence of $1.3786 and trendline resistance.

That recent rise comes after a deep retracement of the late-July rise from $1.3572, and we would need to see that level broken to solidify a bearish continuation signal. Until then, there is still a chance we see further ground regained, with the price starting to rise back towards this confluence of resistance around $1.3786.

AUD/USD rallies towards confluence of resistance

AUD/USD has similarly been regaining ground this week, with the price rising back into the 61.8% Fibonacci resistance level at $0.727.

With a wider bearish trend in place, there is a strong chance we see another move lower before long. The confluence of Fibonacci and trendline resistance thus provides us with a zone of resistance that should spur a new move lower for the pair. Ultimately, we would need to see $0.7381 broken to bring about a more confident bullish view for AUD/USD.


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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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