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 and GBP/USD decline as AUD/USD fights to hold its ground

The euro and sterling are weakening against the dollar, while the Aussie is refusing to head lower despite the recent lower high.

EUR/USD on the back foot

Yesterday’s EUR/USD reversal back below $1.22 does look to have given the sellers the upper hand, with further losses since then putting $1.21 back into view.

The lower high at $1.22 seems to confirm the bearish view, and will mean that buyers need to get the price back above this level to restore a bullish view.

GBP/USD heading to lower bound of trading range

GBP/USD having dropped back from $1.42 once again the price is now heading back to the $1.41 support zone.

This will need to break for a more bearish view to prevail; at present the rangebound trading of the past few sessions continues to prevail.

AUD/USD holds its ground

While the AUD/USD lower high of earlier in the week is still intact, there has not yet been much in the way of downside momentum.

Losses have been stemmed above $0.772, so a move below here would reinforce the bearish view and bring $0.77 and lower into view. Alternatively, buyers need to move the price back above $0.776 to break the sequence of lower highs and provide a more near-term 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
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.