EUR/USD, GBP/USD, and AUD/USD weakness could bring buying opportunity

EUR/USD, GBP/USD and AUD/USD weakness could bring buying opportunities as the dollar looks likely to remain under pressure.

EUR/USD hits four-month high

EUR/USD has managed to break through the $1.1452 resistance level this morning, continuing the uptrend seen through the past month.

The uptrend seen throughout recent weeks provide us with a clear intraday pathway to follow, with a break below the $1.137 level required to bring about a more bearish picture. Until then, further upside looks likely from here.

GBP/USD on the rise after recent declines

GBP/USD has seen a more mixed path over the course of July thus far, with early gains turning into a more choppy period over the week just gone.

A break through the $1.2624-$1.2649 resistance zone would point towards a possible bullish continuation phase coming into play. However, until that happens there is still a chance for further downside to continue this short-term pullback.

AUD/USD strengthening after Fibonacci retracement

AUD/USD has also started to regain ground following some weakness towards the back end of last week.

The respect of the 61.8% Fibonacci support level highlights the potential for another push higher before long, with a break below $6921 ultimately required to break us out of this recent uptrend. As such, another bullish move higher looks likely before long.


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. 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. See full non-independent research disclaimer.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

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.