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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

The euro’s better morning has not been reflected in cable, which has not been able to recover the mid-week highs.

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EUR/USD stages a recovery

Euro bulls continue to take charge of EUR/USD, with early gains this morning heading towards the $1.1660 area that has provided resistance over the past two sessions.

A move above here opens the way to the $1.1736 area, and then $1.18, creating higher highs on the way. A close below $1.1530 is required to create a new lower high.

GBP/USD tiptoes higher

The price for GBP/USD has pushed higher over the past couple of days, but remains unable to move on above $1.2980.

From here $1.3040 is the next area to watch, and then onto $1.32. A move below $1.2860 would be potentially bearish, and open the way to $1.2773 and then $1.2635.

Tariff fears hit Aussie

Trade concerns continue to weigh on the currency, with the AUD/USD price back to the $0.7160 area that has held over the past few days.

A close below $0.7160 would open the way to $0.7016. Any rebound that fails to move back above $0.7364 would still be a possible selling opportunity.

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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