Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. 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. 72% of retail client accounts lose money when trading CFDs, with this investment provider. 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 rise towards key resistance

EUR/USD, GBP/USD and AUD/USD rise towards key resistance, as the dollar comes under pressure.

Video poster image

EUR/USD pushing higher as consolidation phase continues

EUR/USD managed to reverse higher once again last week, continuing the consolidation phase that has been in play for a month now. With the price rising back into the $1.1302 resistance level, there is a chance we could see another short-term pullback as we continue the trend upwards towards the $1.1353 resistance level.

That level looks like a sensible target for this short-term rise, with the price ultimately needing to break through that key resistance level to bring about a more sustainable bullish bias. To the downside, we would need a break through $1.1219 to signal another return to $1.1168-$1.1185 resistance.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD rises towards key resistance level

GBP/USD has seen significant upside over the past week, with the pair rallying from 76.4% Fibonacci support to move within touching distance of the crucial $1.2543 swing high.

A break through that level would bring a more bullish wider picture into play, negating the downtrend seen throughout the final three weeks of June. With the price turning higher after a pullback on Thursday, the big question is whether we are going to see the $1.2543 level broken or not. The answer to that question will dictate where we go from here.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD rallies into key resistance

AUD/USD has similarly been on the rise, with the price rising back into the crucial $0.6975 resistance level. A break through this point would signal a potential continuation of the wider bullish trend.

However, this is also the level which has twice been the source of a bearish turn. As such, the outlook for the day will be determined by whether we see the pair break through or reverse lower from this $0.6975 threshold.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

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

Find out more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

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.