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 under pressure once more

US dollar strength continues to be felt across forex markets, driving down key pairs.

EUR/USD falls to six-week low

EUR/USD losses have slowed, but it remains below the 50-day simple moving average (SMA), at $1.177.

However, with the overall trend higher still intact, we watch for any near-term recovery above $1.178. Further declines could bring the $1.1425 level into play once again.

GBP/USD falls below 200-day SMA

There seems no stopping the decline for GBP/USD, as the reversal from the 50-day SMA at $1.3011 goes on.

With the price now below the 100-day and 200-day SMA the sellers are firmly in control, and now target $1.25. Intraday rallies could continue to be selling opportunities, with a more bullish view requiring a recovery above $1.28.

AUD/USD correction goes on

The losses continue for the AUD/USD, taking the pair to its lowest level since mid-August.

Like EUR/USD, this looks more like a pullback in an uptrend rather than something more serious. As a result, while further losses may push the pair down towards the 100-day SMA ($0.6997), we watch for a recovery in due course. A rally back above $0.72 would provide that trigger, and put the pair on course to target $0.74.

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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