FX levels to watch: EUR/USD, GBP/USD and USD/JPY
The dollar remains under pressure for the time being, with the euro, sterling and the Aussie all making small gains after weeks of losses.
EUR/USD bulls make modest gains
The price of EUR/USD continues to hold $1.112, the lows from last week and key support back in June 2017.
A bounce targets $1.125 and trendline resistance from the March high, and a breakout above here targets $1.132 and then $1.145. A close below $1.112 reignites the bearish move.
GBP/USD builds on last week’s low
It looks like a short-term low has been created for GBP/USD, but the rebound now targets $1.30 and trendline resistance from the March high.
Above this, $1.304 and then $1.312 come into view, with a push above the 24 April high at $1.296 breaking through a previous lower high. A further decline below $1.287 would head towards the February low at $1.277.
AUD/USD tiptoes higher
The AUD/USD pair has seen steady gains over the past three sessions, finding a low around $0.70 for the time being.
Friday saw the rally peter out around $0.706, so a failure to push above here would be a bearish development. Further gains target $0.71, then on to $0.716 and $0.72. Below $0.70 the price heads towards $0.697 and then $0.683.
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