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

The dollar is falling out of favour once more this morning, with EUR/USD, GBP/USD, and AUD/USD all turning higher, in a follow up to last week’s strength.

Source: Bloomberg

EUR/USD breaks higher, with further upside looking likely

EUR/USD has punched into a new two-month high this morning, following on from a sharp appreciation on Friday. With a shallow pullback this morning, we can look for short-term upside play, utisiling the close proximity of the recent swing low to enable a strong risk-to-reward trade.

As such, while the price remains above $1.1912, another leg higher looks likely from here. A move back below that level would point towards a retracement of the move up from $1.1836.

GBP/USD breaks resistance amid upward channel

GBP/USD is punching higher this morning, in a continuation of the ascending channel that has been in play for the past fortnight.

With the price moving above $1.3338, it looks like we're in the midst of a bullish breakout for the pair. This is in line with the wider bullish trend throughout 2017.

AUD/USD breaking higher once more

AUD/USD is pushing higher, following a retracement lower in the second half of last week.

The ability to break through $0.7638 is key to providing a signal that we will see further upside to come from here. Given the long-term downtrend, this bullish shift is tentative in nature. 

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.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.