FX levels to watch: EUR/USD, GBP/USD and AUD/USD

EUR/USD and GBP/USD are recovering, but AUD/USD is sounding a warning signal for the rebound in risk assets.

IG Analyst

Publication date: 2019-01-23T09:43:36+0000

EUR/USD still in trend channel

EUR/USD continues to cleave to the rising channel, although we have yet to see a significant bounce.

Yesterday saw the index hold the $1.134 area. If this remains the case, the bullish view suggesting a bounce back towards $1.15 remains in place. A close below $1.134 brings horizontal support at $1.13 into play.

GBP/USD eyes up $1.30

Employment figures yesterday bolstered GBP/USD, reviving the uptrend. A fresh push above $1.30 will mark a bullish breakout, targeting $1.304 and then $1.32.

A firm move below $1.28 is needed to suggest that the sequence of higher lows has been broken.

AUD/USD keeps on declining

AUD/USD continued its downward move yesterday, providing further evidence that global risk appetite is waning.

A rally off the lows yesterday is faltering at $0.714, creating a lower high. Further declines target $0.712 and then $0.709.

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.

Seize it now. Trade over 17 000 markets on our award-winning platform, with low spreads on indices, shares, commodities and more.

Find your market

Live prices on most popular markets

Forex
Shares
Indices

See more forex live prices

See more shares live prices

See more indices live prices

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…

How much does trading cost?

Find out about IG

Plan your trading

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.

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.

This website is owned and operated by IG Bank S.A. Registered address at 42 Rue du Rhone, 1204 Geneva, authorised and regulated by FINMA.

The information on this site is not directed at residents of the United States and Belgium, or any particular country outside Switzerland and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

TOP PARTNER