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 break key resistance

EUR/USD, GBP/USD and AUD/USD break through key resistance to bring multi-month highs. With short-term weakness this morning, could we be looking at a potential buying opportunity?

EUR/USD breaks from resistance zone

EUR/USD is on the rise once more this morning, with a sharp appreciation in the pair taking us through the $1.192 resistance level for the first time since early September.

That points towards a potential bullish continuation of the recent move higher, with a decline below the $1.180 support level required to bring about a bearish outlook once more. To the upside, resistance comes in the form of the $1.2011 level.

GBP/USD likely to continue its gains after reaching multi-month high

GBP/USD has been on the rise over the course of the week, with the pair reaching the highest level since the beginning of September.

The move lower seen this morning does raise the chances of a move back into trendline support. A break below that trendline would point towards a potential retracement phase coming into play, with a bullish outlook remaining in play until we see a move below the likes of $1.3195 and $1.3106.

AUD/USD breakout points towards further upside

AUD/USD has managed to break through the $0.7339 resistance level yesterday, with the pair managing to gain ground overnight.

With price turning lower this morning, there is a good chance we will see further weakness over the coming hours. However, that short-term downside is unlikely to last, with the recent bullish trend in place unless we see a break below the $0.7254 support level.

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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