EUR/USD and AUD/USD hard hit, with GBP/USD attempting to hold its ground
EUR/USD and AUD/USD suffered sharp losses yesterday, with a stronger dollar weighing on GBP/USD as well.
EUR/USD knocked back to three-week low
Strong US data yesterday put the dollar on the front foot once again, pushing EUR/USD to its lowest level in three weeks.
Buyers will want to push the price back above $1.215 to recover a short-term bullish view, while sellers are hoping that any bounce will be short-lived in order to open the way to further downside, targeting $1.20 in the first instance.
GBP/USD stumbles to $1.41
With the GBP/USD, the dollar found some strength against sterling too yesterday.
However, the downside seems to have slowed as it reaches $1.41, with any potential bounce needing to clear $1.42 to avoid reinforcing the lower high from yesterday.
AUD/USD drops to seven-week low
AUD/USD was shaken out of its complacency to a degree by yesterday’s resurgent US dollar, dropping below $0.77 for the first time since mid-April.
It has found support for now at $0.765, but with lower highs in place since the middle of May a move above $0.775 is needed to restore a more bullish view.
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
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
