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 and AUD/USD still rallying, as GBP/USD looks to rebound

There is no stopping the euro and Australian dollar in their rallies against the US dollar, but for sterling the picture is more mixed.

EUR/USD rally enters another day

Eurozone assets remain in high demand, as seen by the gains in the region’s indices and in EUR/USD.

As we have seen with the DAX, the pair has continued to rally, and while it has dropped back overnight it is already in the process of trying to rally. Bullish crossovers in hourly stochastics and moving average convergence/divergence (MACD) may point to a possible entry point if a higher low is created. Even a deeper retracement from current levels is likely to find support closer towards the rising 200-hour simple moving aervage (SMA) at $1.1331.

GBP/USD attempts to rally

After a retreat from $1.265, the GBP/USD price appears to be fighting to stabilise around $1.254.

Further gains would make for $1.265 once more, the key resistance over the past week. A turn lower would revive a move towards $1.25 and potentially lower, reinforcing a more bearish view.

AUD/USD keeps on climbing

After finding support earlier in the week at $0.6920, the AUD/USD price has resumed its march higher.

Yesterday’s gains took it through resistance around $0.70, and while there has been a pullback from there, it looks to be in the process of establishing a higher low, which would be confirmed by bullish crossovers on the hourly stochastics and MACD.

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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