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.

EUR/USD, GBP/USD and AUD/USD all fall back

Risk appetite is on the wane, as the early losses for the euro, sterling and Aussie against the dollar demonstrate.

EUR/USD drops back from Monday’s high

The EUR/USD price recovered the losses of Friday and continues to hold above the 200-day simple moving average (SMA) at $1.1853, confounding the sellers, but now it needs to push on back to, and then above, $1.1987, the highs for the month so far.

Even then a move above $1.20 could soon run into trendline resistance from the January peak. Sellers will want to drive the price back below $1.188 as a first step to opening the path to further downside.

GBP/USD pushes into support zone

It is now up to the buyers to hold the price of GBP/USD above the $1.38 support level, after the small bounce yesterday that saw the price hold the 50-day SMA.

A reversal here that then retakes $1.40 helps to revive the bullish view, while a drop below $1.375 would put the sellers back in control for the time being.

AUD/USD heads lower

Like many risk assets AUD/USD has turned neutral of late, unable to hold recent highs.

The next lines of possible support are $0.7621 and $0.7563, the former being the early-March low, and then on to the January low. So far there is little sign of a reversal that can recover last week’s highs and help to put the price back on an upward path.

This information has been prepared by IG, a trading name of IG Markets 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.

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

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

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.