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.
EUR/USD recovery takes a hit
EUR/USD has been weakening overnight with the pair falling below the crucial $1.1829 level, following a break below trendline support.
This points towards a heightened chance of further downside for the pair, with the price seemingly respecting the previous resistance level of $1.1862. A break above $1.1880 would negate this short-term bearish view.