Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​​AUD/USD, EUR/USD and GBP/USD under pressure as greenback appreciates​

​​​AUD/USD, EUR/USD and GBP/USD under pressure as greenback appreciates​, just as it did in Q1 2024.​

AUD Source: Bloomberg

AUD/USD nears support

AUD/USD slips towards its $0.6478 March low which may offer short-term support. Below it lies the February low at $0.6443. This level will remain in play as long as no bullish reversal above $0.6634 is seen.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

​EUR/USD drops further

EUR/USD's descent is taking it towards the $1.0724-23 December and early February lows below which lies the $1.0695 February low.

​While the $1.0797 to $1.0802 late February and March lows aren't overcome, the downtrend remains firmly entrenched.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​GBP/USD falls out of bed

GBP/USD's fall through the 200-day Simple Moving Average (SMA) at $1.2586 pushes key support between the December-to-February lows at $1.2519 to $1.25 to the fore.

​Resistance is now seen along the 200-day SMA at $1.2586.​​

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.