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 and GBP/USD drop back as AUD/USD holds steady

Some of the gains of the past few days in EUR/USD and GBP/USD have been given back, while AUD/USD refuses to budge.

EUR/USD struggles below $1.225

Gains have stalled below $1.225 for EUR/USD, so while the price has been able to hold around $1.22 in recent sessions, it now needs to find some upward momentum to avoid a developing negative view.

However, given the size of the bounce from early April, it is possible that this is a consolidation period before a new leg higher. A move above $1.225 could signal when this resolves into a new leg higher.

GBP/USD edges back to trendline support

GBP/USD finds itself at trendline support from mid-May, having fallen back from the new three-year high hit yesterday. Below $1.414, the $1.40 area comes into play, while a renewed bounce targets $1.424 and higher.

AUD/USD stuck in narrow range

AUD/USD has remained frustratingly range-bound in recent sessions, held above $0.77 but unable to move on above $0.775. A continued defence of $0.77 does suggest that the next move will be higher, but there is little sign of this at present.

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.