EUR/USD, GBP/USD, and NZD/USD gain ground after recent losses

EUR/USD, GBP/USD, and NZD/USD push higher after recent periods of weakness. But will it last?

EUR/USD finding SMA support once again

EUR/USD downside seen yesterday has taken the pair back into 200-day simple moving average (SMA) support, with the price starting to turn higher once again.

The consolidation we have been seeing of late comes off the back of a rebound from the key $1.1754 support level. With that in mind, there is likely to be another move higher before long as we look for a potential move back into the $1.2011 resistance level. A break back below that $1.1754 level would be required to bring a wider bearish outlook into play.

GBP/USD upside looks unlikely to last

GBP/USD has been on the rise over to course of this week, with the pair hoping to shake off some of the pessimism that has dominated the month of September thus far.

However, that downtrend remains intact until we see the price rise through the $1.3035 resistance level. Until then, this rise looks likely to provide a precursor to further downside.

NZD/USD continues to climb after recent retracement

NZD/USD continues to push upwards following the recent retracement into the 61.8% Fibonacci level at $0.6603.

The rise we have seen since finding support on that level has been clear and consistent, with higher lows in play. With that in mind, further upside looks likely unless we see a break below the $0.6684 swing low.


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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

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.