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

The Federal Reserve (Fed) meeting failed to revive the US dollar, and it looks like more gains are in order for sterling and the euro.

EUR/USD uptrend revives

The price for EUR/USD has found buyers around $1.24, a higher low from the weakness at the beginning of the week around $1.2323.

Thus, we should expect further gains from here, with $1.25 and $1.2550 in view. It will require a move below $1.2323 to negate this view. 

GBP/USD recovery continues

The dip towards $1.40 provided another strong buying opportunity for GBP/USD.

The price is recovering from $1.40 and moving back towards last week’s highs at $1.4346. Longer term, the next move would be towards $1.4649.

AUD/USD stalls below $0.81

It has been a tough week for AUD/USD, faltering around the $0.81 level.

It looks as if a bigger dip could be taking place, with the next possible support at $0.79. A close back above $0.81 would target $0.8163.

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. See full non-independent research disclaimer and quarterly summary.