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 roll over after recent rise

EUR/USD, GBP/USD and AUD/USD start to ease back as stochastic reversal highlights easing momentum.

​EUR/USD reversing from key resistance zone

EUR/USD gains seen yesterday have taken us back into the $1.0991-$1.1019 resistance zone, with the price turning lower in response. The breakdown below 80 on the stochastic points towards a potential reversal from here, with a rally back above the $1.1018 level required to bring about a bullish continuation breakout signal.

Until then, the two-month range looks likely to persist with another move lower from here.

GBP/USD rebound starts to ease back

GBP/USD rallied into the 50% Fibonacci resistance level yesterday, with the pair easing back since. From a wider perspective, this rally looks like a retracement of the decline from $1.2643.

Whether we see a deeper pullback remains to be seen, yet the break back below 80 on the stochastic highlights a bearish shift in momentum taking hold today. As such, while a bearish outlook is in play, we could see a deeper retracement with another leg higher at some point.

AUD/USD turning lower from major resistance level

AUD/USD rallied into the crucial $0.666 resistance level yesterday, with the pair starting to ease back somewhat overnight. Once again we are looking at a potential bearish shift in price action as the momentum rolls over as indicated by the stochastic oscillator.

Nevertheless, the trend here is clearly bullish, with a short-term pullback only having wider consequences for this uptrend if the price breaks below the $0.6506 level. Until then, there is a good chance we will see another push to break through the key $0.6685 resistance level.

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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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