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 after recent losses

EUR/USD, GBP/USD, and AUD/USD rally out of recent declines, but will those gains prove fleeting?

EUR/USD declines likely to be precursor to further upside

EUR/USD has started to roll over this morning, following a rally into the 200-hour simple moving average (SMA).

While this could point towards short-term downside, it looks likely we have bottomed out given the recent break through $1.1858 resistance. As such, short-term declines could provide a buying opportunity, with a break back below the $1.1789 level required to negate that outlook.

GBP/USD consolidating within short-term downtrend

GBP/USD has been on the decline since Tuesday's peak, with the price taking back some of the gains seen throughout recent weeks. However, the price appears to have stopped in its tracks over the past 24 hours, with the consolidation continuing into this morning.

As things stand, we have not seen any notable bullish signals, with a break through the $1.3358 level required to bring about such a move. Until then, we could be looking at a mid-trend consolidation, with a break back below $1.3242 providing a bearish continuation signal.

AUD/USD breaking through channel resistance

AUD/USD is on the rise this morning, following a period of downside throughout much of the week. With the price pushing through channel resistance, there is a chance we could be looking at the beginning of another bullish phase.

However, we would need to see a break through levels such as $0.7311 and $0.734 to bring a more confidence bullish view into play.

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.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.