EUR/USD, GBP/USD and AUD/USD expected to reverse lower

EUR/USD, GBP/USD and AUD/USD likely to reverse lower after early dollar declines.

​EUR/USD downtrend likely to persist despite early strength

EUR/USD is on the rise this morning, coming off the back of another bout of downside on Friday.

That continues the current intraday downtrend, with lower highs taking place time and time again. With that in mind, this current rise is likely to falter once more, while a break through the $1.1254 level is required to negate this outlook.

GBP/USD rebound provides another shorting opportunity

GBP/USD is similarly on the rise in early trade, coming off the back of a week of losses that took the pair into a fresh three-week low.

That bearish trend is likely to continue, with the pair already starting to show signs of weakness. As such, a bearish outlook is in play, with a break through the $1.2456 level required to negate this outlook.

AUD/USD rallies into Fibonacci resistance

AUD/USD has rebounded into the 61.8% Fibonacci resistance level this morning, with the pair starting to show signs of weakness.

Short-term declines highlight the potential for further weakness from here, with a bearish outlook in play unless we see a break through the $0.6911 level.


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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

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.