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 push higher, yet doubts remain

EUR/USD, GBP/USD, and AUD/USD push higher, yet the bigger question is whether this is simply a breather or the beginning of a bullish shift.

EUR/USD pushes higher after swing-high break

EUR/USD managed to break through the crucial $1.1247 swing high yesterday, as the pair pushes higher off the back of a deep retracement. The bullish breakout through trendline resistance in early June provided us with a bullish wider picture. and that is proving to be the case.

The break through $1.1247 resistance points towards further upside, with a rise through $1.1348 enhancing such a view. While we are consolidating, watch for a break through $1.1317 to bring about the next leg higher. Until then, there is a chance we could post a short-term pullback.

GBP/USD pausing after recent rally

GBP/USD has been gaining ground throughout the week, coming off the back of a break below the crucial $1.2559 support zone.

That break points towards further downside coming into play, yet we have also seen a significant shift towards the pound due to interest rate expectations. As such, there is still a chance of a move lower, yet it is worthwhile noting that a break through the $1.2763 level would bring about a wider bullish view for the pair.

AUD/USD continues to rebound after recent declines

AUD/USD has been regaining ground in the wake of a substantial period of downside. That move lower provided a crucial break below the $0.6865 support level. Thus, until we break through the $0.7021 resistance level, a bearish turnaround looks like a distinct possibility.

This upward retracement could have further legs in it, with the ability to break through $0.6938 key to seeing further upside. Watch for a break below the $0.6912 swing low for a bearish picture to emerge.

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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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