CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD and AUD/USD look primed for another push higher

EUR/USD, GBP/USD and AUD/USD look to continue its recent uptrend, with a brief pause in looking likely to result in another move higher here.

EUR/USD rising back into Fibonacci resistance

EUR/USD has been consolidating of late, with the price struggling to break through the confluence of the 200-day simple moving average (SMA), 61.8% Fibonacci, and late-August low of $1.1664.

A rise through that level would bring about a likely move back towards the 76.4% Fibonacci resistance level of $1.1701. However, the wider downtrend does point towards a potential period of weakness in the not to distance future. A break below the latest swing long (currently $1.1617) would bring that wider bearish trend back into play.

GBP/USD on the rise after recent pullback

GBP/USD has been gaining ground over much of the past month, with the price pushing towards the crucial $1.3913 resistance level. A break-up through that September peak would end the wider trend of lower highs that has been playing out in recent months.

The move back below $1.3742 support on Friday does provide a slight warning sign that this recent rally could start to roll over. However, it makes sense to watch for a closed candle below those levels to bring greater confidence that such a move is coming into play. Until then, the short-term uptrend looks likely to remain dominant.

AUD/USD turning higher after retracement phase

AUD/USD has been an outperformer of late, with the price rising through $0.7478, resistance to bring about a three-month high on Thursday.

With the price having been on the back-foot since that Thursday high, we are seeing the price start to turn higher once again here. A rise through the $0.7512 resistance level brings a signal that we are set to push back towards that peak of $0.7546. As such, a bullish outlook holds unless the price breaks back below the $0.7378 swing low.


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