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 falter but AUD/USD holds its ground

Pessimism has hit EUR/USD and GBP/USD, but AUD/USD has managed to hold its ground despite growing risk aversion.

EUR/USD selling resumes

Euro bears remain firmly in control, as the EUR/USD price rebounds from an overnight low but begins to decline once more – the overnight bounce stalled at $1.0965, and from here we may see a push below $1.094 and then down to $1.087.

A close above $1.10 would be needed to revive a more bullish view, and would target the 50-day simple moving average (SMA) at $1.1053.

GBP/USD drops below 50-day MA

The GBP/USD price broke below the 50-day SMA ($1.2257) yesterday, and looks set to continue its decline towards the August lows at $1.20.

The failure of the push above $1.236 last week confirmed the preponderance of selling pressure, and would suggest that any sustainable rally requires a move back above $1.24.

AUD/USD holds recent gains

The AUD/USD rally from the lows of last week suffered a bout of volatility yesterday, but arguably it is still intact, having seen support develop around $0.673.

If this continues to hold then a push towards $0.677 comes into play, followed up by the $0.6828 level. A move below $0.672 begins to reverse the bullish impression and would put last week’s lows at $0.677 into play.


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