Over 40 years’ heritage
185,800 clients worldwide
Over 15,000 markets

FX levels to watch – GBP/USD, EUR/USD, AUD/USD, USD/JPY

Dollar weakness is driving currency pairs right now, with remarkable moves across the board. 

Pound
Source: Bloomberg

GBP/USD could see 50-day SMA

The rally here has barely paused for breath, but the big question now is whether the price can push on through downward sloping resistance around $1.4625.

If it does then the way is clear to the 50-day simple moving average at $1.4715, while a turn lower will see support at $1.4540 and then $1.4430.

Much of course depends on what Mark Carney says later in the day, so be prepared for high volatility.

GBPUSD

EUR/USD could find support at $1.1055

Another spike higher in the early part of the session puts the pair on course to break through yesterday’s highs and move above the $1.1150 level.

Levels above here include $1.1191 and then $1.1290. Any turn lower would find possible support down towards $1.1055 and then $1.0950.

EURUSD

AUD/USD could find support at $0.7116

The rally is back on here, although dip buyers would probably prefer to wait for another pullback rather than chasing the pair up around current levels.

Nonetheless, a move through $0.72 would be viewed as bullish, clearing the way to the January peak around $0.73, with the 200-day SMA at $0.7333 just above this.

Any pullback could find support around $0.7116, and it will take a move below the 200-hour SMA at $0.7053 to suggest a more bearish outlook.

AUDUSD

USD/JPY could see sellers

With the pair heading back to Wednesday’s lows at ¥117, we wait to see if this level holds or if a more substantial break is in the offing.

A move below here takes us on to the 20 January lows at ¥116, with some support possible around ¥116.80.

Bounces back towards ¥118.42 are likely to bring out sellers once again. 

USDJPY

The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.

Find articles by analysts