Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

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

Dollar strength continues to hobble EUR/USD, GBP/USD and AUD/USD. 

Video poster image

EUR/USD continues in main direction

While the price rallied off the lows of last week, it has still failed to change the broad direction of travel for EUR/USD.

Gains have faltered at $1.2350, so if no further upward progress develops a turn lower looks likely. Even if it does rally, it must clear $1.2450 to break the downtrend from the February high.

GBP/USD balks at downtrend line

GBP/USD looks to be shying away from the downtrend line that has held since the beginning of February.

A turn lower targets $1.38, and then $1.37 in the short term. A close above $1.39 might indicate that a break of the current downtrend is in the offing.

AUD/USD hits main point of resistance

We have seen a solid bounce for AUD/USD off the lows from the beginning of March, but just as the late February rally failed to break $0.79, the same appears to be happening now.

A sustained downturn would target $0.7810 and then $0.7750. Above $0.79 the $0.80 peak from mid-February comes into view. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer

Find out more about