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

EUR/USD is being left out of the general risk-on move, as GBP/USD and AUD/USD both climb.

EUR/USD stuck below $1.17

We have seen EUR/USD gain steadily over the past few days, but a move above $1.17 still eludes it.

Above here, the $1.18 area and $1.1852 zones are areas of resistance. A move back below $1.16 hands the initiative to the sellers, although $1.1550 still remains a significant area of support.

GBP/USD sails higher

Gains continue for GBP/USD, with the price heading on towards $1.32.

The bullish view remains in place until we see a drop back below $1.2950. Further upside targets lie at $1.3204, and then $1.3358.

AUD/USD rallies despite macro backdrop

AUD/USD continues to demonstrate notable strength despite getting no help from the Reserve Bank of Australia (RBA) and the fresh round of trade wars that broke out last night.

It is still in a firm downtrend, but a rebound towards $0.73 now looks possible. A close back below $0.7140 is needed to reverse the short-term bullish outlook.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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.

Find articles by analysts