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 rebound, but will it last?

EUR/USD, GBP/USD and AUD/USD regain ground, yet questions remain over whether this rally will last.

EUR/USD rebounds, yet bears could return

EUR/USD has been seeing some rare gains, with the recent downtrend starting to unravel thanks to a break through 1.0831 resistance.

While we have been pushing higher since then, there is a chance we could see some weakness play out today following a 61.8% Fibonacci retracement in the wake of a decline below 1.0778. With that in mind, a bearish short-term outlook is in play, with a rise through 1.0888 required to continue the recent recovery.

GBP/USD rallies towards key resistance level

GBP/USD has been on the rise over the course of this week, with the pair moving in an impressively consistent trajectory over the past 24 hours.

However, we remain below the 1.1935 level which must be broken to bring about a wider bullish view. Until then, there is a chance we will turn lower again, with a breakdown below trendline support providing that initial bearish signal. With that in mind, watch for whether we see price action break through trendline support, with a rise above 1.1935 required to bring a bullish view into play.

AUD/USD breaks through major resistance level

AUD/USD has broken through the 0.5986 resistance level this morning, with the recent rebound in risk assets benefitting the Australian dollar.

That rise points towards the possibility of further upside, with a break below 0.5865 required to bring about a bearish view once more.

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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