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 falls as GBP/USD and AUD/USD recover

The euro remains under pressure against the dollar, while AUD/USD attempts to continue its ongoing rally and GBP/USD pushes higher in the wake of the BoE meeting this morning.

EUR/USD continues to fall

EUR/USD remains under pressure from the beginning of the week, moving steadily lower.

Having broken trendline support on Monday the downtrend has intensified, with little in the way of near-term rebounds. A move through $1.082 would break trendline resistance and bring $1.092 into view. Further declines head towards the late-April low at $1.073.

GBP/USD spikes following BoE meeting

GBP/USD has spiked this morning following the Bank of England (BoE) decision, breaking through trendline resistance from the 29 April high.

Further gains head towards $1.248, and from there on to $1.265. A renewed push lower heads towards $1.225 and the 21 April low.

AUD/USD rallies from key support

A trading range has developed here, as the AUD/USD price finds support for a second time this week at $0.638, while it has yet to break resistance at $0.647.

A move above here clears the way towards last week’s highs at $0.657. Alternatively, further declines head towards $0.625 if $0.638 is broken.

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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