CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

EUR/USD, GBP/USD and AUD/USD roll over as dollar demand returns

EUR/USD, GBP/USD and AUD/USD break below key support, with the dollar coming back in demand amid risk-off sentiment.

EUR/USD starts to roll over amid risk-off sentiment

EUR/USD has managed to break below the crucial $1.1241 support level on Friday, negating the uptrend that has dominated the past month.

That break into a new lower low points towards a fresh bearish phase coming into play for as long as risk assets markets roll over. With the pair turning lower after a shallow rebound on Friday, a break below the $1.1212 low would bring a good bearish sell signal.

GBP/USD breaks below key support level

GBP/USD has also broken below key support, with the declines seen on Friday seeing the key $1.25 level give way.

This could point towards further downside coming into play, with risk-off sentiment looking to benefit the dollar. As such, this short-term bearish outlook holds unless we see a break through the $1.2551 lows.

AUD/USD rolls over as Covid-19 cases rise in Beijing

AUD/USD has broken below the key $0.6799 support level this morning, with the pair hitting the lowest level in almost two weeks.

That points towards further downside coming into play, with fears over a potential rise in Chinese coronavirus cases coming amid a recent breakout in Beijing. The recent break below $0.6799 points towards further downside, with a bearish outlook in play unless we see the price rise through the $0.6912 level.


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