EUR/USD and AUD/USD in retreat as GBP/USD tries to stabilise
The sellers are back driving EUR/USD and AUD/USD lower, but in GBP/USD attempts at fresh losses are being met with buying pressure.
EUR/USD on the back foot again
After two days of losses, EUR/USD is attempting to steady itself, but the reversal on Tuesday continues to point towards a renewed bearish view.
The intraday bounce currently in play would need to end up moving back above $1.185 to reverse the negative impression created by the drop of the past 48 hours. Further declines head towards $1.17 in the short term.
GBP/USD fights to hold its ground
The buyers here have prevented any downside below last week’s low, giving hope for the bulls that the GBP/USD can now begin to move higher once again. Gains above $1.39 would be a good first step in creating a durable low.
A fresh drop would target a move below $1.37 that would put $1.366 and the 200-day simple moving average (SMA).
AUD/USD testing recent lows
After some stabilisation yesterday, AUD/USD is on the back foot once again, and it looks like this will finally open the way to $0.736 and $0.731.
A reversal above $0.755 would be required to cancel out this bearish view, and for the moment, the sellers seem to be firmly in charge.
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
