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

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

It looks like the rallies in the euro and sterling have run their course, while the Aussie is still mired in a narrow range. 

AUD
Source: Bloomberg

EUR/USD bounce gives up the ghost

EUR/USD has steadily recovered from Tuesday’s lows, but the bounce appears to be running out of steam at $1.16. A turn lower from here will target $1.1574, and then $1.1554 in the short term.

Below this, the $1.1489 area comes into play, with intraday rallies continuing to be sold. 

EUR/USD chart

GBP/USD poised to move down

Having rallied off the lows yesterday, GBP/USD looks set to create a new lower high as it turns down from $1.3153.

A push lower will target Wednesday’s low a $1.3086, and then down to $1.3040. A change to a short-term bullish view requires a move above $1.32.

GBP/USD chart

AUD/USD turns lower from top end of range

AUD/USD has been tough for trend traders these past few weeks, with the range from $0.7620 to $0.7720 still intact.

It looks like the pair is turning lower from $0.77, with the $0.7620 still a target. We wait for a break outside of this range to provide longer-term possibilities. 

AUD/USD chart

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.