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 GBP/USD drop back as AUD/USD holds steady

Some of the gains of the past few days in EUR/USD and GBP/USD have been given back, while AUD/USD refuses to budge.

EUR/USD struggles below $1.225

Gains have stalled below $1.225 for EUR/USD, so while the price has been able to hold around $1.22 in recent sessions, it now needs to find some upward momentum to avoid a developing negative view.

However, given the size of the bounce from early April, it is possible that this is a consolidation period before a new leg higher. A move above $1.225 could signal when this resolves into a new leg higher.

GBP/USD edges back to trendline support

GBP/USD finds itself at trendline support from mid-May, having fallen back from the new three-year high hit yesterday. Below $1.414, the $1.40 area comes into play, while a renewed bounce targets $1.424 and higher.

AUD/USD stuck in narrow range

AUD/USD has remained frustratingly range-bound in recent sessions, held above $0.77 but unable to move on above $0.775. A continued defence of $0.77 does suggest that the next move will be higher, but there is little sign of this at present.


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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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