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

Top calling is in vogue again, as the pound, euro and Aussie all fall back from recent highs.

Euro and US dollar notes
Source: Bloomberg

GBP/USD hit by Carney’s comments

Carney’s press conference yesterday put cable back on a downward move, and so now we look to see if the $1.24 area can be broken. If it is, $1.2242 and then $1.2103 come into play.

A rally has to move back above $1.26 to suggest a test of $1.2827.

EUR/USD rally may be at an end

It has not been wise to call a top in this move from the December lows, but the double failure to break $1.08 this week could mark the end of the rally, at least for now.

Further downside moves would target $1.0710 and then $1.06 (the 50-day simple moving average). A rally has to post a daily close above $1.08 to indicate the buyers are back in charge.

AUD/USD downside may be set to return

The spike to $0.77 might mark the end of the bounce here, but we will need to see a move below $0.76, which would indicate more downside is on the way. Otherwise, this retracement could set the pair up for a move back to $0.77, and then on to the November high at $0.7785.

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.