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 all aiming for further gains

Risk-on moves in FX have lifted EUR/USD, GBP/USD and AUD/USD.

EUR/USD looking to clear $1.22

EUR/USD is edging back to through the $1.22 zone for a second day, having reversed Friday’s losses yesterday.

This leaves it on course to challenge $1.235, the peak from the beginning of the year. Sellers are still waiting for an indication of a move lower, with a drop below $1.21 needed to open the way to more significant downside.

GBP/USD recovers from mixed Monday

After shaking off some weakness yesterday, GBP/USD moved higher again.

We now look for a move back towards $1.424 and the highs from late February. As with EUR/USD, there is little sign of a reversal, with even yesterday’s small drop being met with buying.

AUD/USD looking to break higher

AUD/USD continues to find buyers above $0.77, and this, coupled with the slow but steady upward move in place since the end of March, reinforces the bullish view.

We could also see a firm break higher today from short-term trendline resistance from the May peak, as the descending triangle resolves into a bullish move given the continued defense of $0.77 by the buyers.


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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