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 at risk after decline towards key support

EUR/USD, GBP/USD, and AUD/USD decline towards key support, with bullish outlook coming into question.

EUR/USD drops back into key support after recent gains

EUR/USD looks to be turning a corner following a period of strength, with the rise into a deep retracement potentially coming to an end here.

A break below the $1.1725 swing low would solidify that bearish reversal signal, pointing towards a continuation of the bearish pathway seen since the 1 September peak. As such, while we have a bearish outlook in play unless the $1.1917 level is broken, a move below $1.1725 would solidity the bearish signal following a decline through trendline support yesterday.

GBP/USD decline could see bears come back into play

GBP/USD has been on the slide since Monday's peak, with the pair heading back towards the key $1.2845 support level today.

The short-term uptrend seen throughout the three weeks to Monday looks to possibly come to an end should the price fall below the $1.2845 level. As such, there is still a chance of a bullish continuation of that trend, but this decline is increasingly likely to end that bullish bias. With that in mind, watch for a break below $1.2845 to bring a more bearish outlook for the pair.

AUD/USD declines into Fibonacci support

AUD/USD has similarly seen significant downside over the start of the week, with the pair turning lower since Monday's high.

This has taken us back into the 61.8% Fibonacci support level at $0.7152. With a trend of higher highs and lows still in play, the bullish bias still remains unless we see a break below the $0.7096 swing low.

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

See more forex live prices


See more shares live prices


See more indices live prices

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.