FX levels to watch – EUR/USD, AUD/USD

Dollar strength has knocked back both the euro and the Aussie this morning.

Source: Bloomberg

EUR/USD suffers sharp losses

EUR/USD continues to head towards the November rising trendline.

Support may be found around $1.1850. Alternately, with the price already oversold on the four-hour chart, we may see a bounce around $1.1950. The next target would be $1.2092.

AUD/USD falters near recent highs

It has been a relentless move higher for AUD/USD since mid-December.

However, the price stumbled at $0.7877 last week and has dropped back since then. Support at $0.7807 has yet to be tested. A fresh push above Friday’s highs targets $0.7897 in the short term.

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.

Find articles by analysts