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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

FX levels to watch – EUR/USD, GBP/USD, AUD/USD

Yet more dollar strength continues to bear down on the euro, sterling and the Aussie.

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EUR/USD still on the decline

The euro continues its descent, with no rebound in sight yet for EUR/USD.

The current downtrend would be broken with a move above $1.1880, but even then any rebound that fails to clear $1.21 would likely be a fresh selling opportunity. The next target on the downside is $1.1717, the December low.

GBP/USD holding for now

Consolidation appears to be the order of the day, as the GBP/USD price hovers around $1.35.

A bullish move requires a close above $1.3659. Further declines will target $1.3321.

AUD/USD selling continues

AUD/USD rallies have been sold since the beginning of the year.

While downward momentum looks strong at present, a rebound could be in the offing. This would require a move back above $0.7473.

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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