FX levels to watch – EUR/USD, AUD/USD

Dollar strength has knocked back both the euro and the Aussie this morning.

EUR/USD
Source: Bloomberg

EUR/USD suffers sharp losses

EUR/USD continues to head towards the November rising trendline.

Support may be found around $1.1850. Alternately, with the price already oversold on the four-hour chart, we may see a bounce around $1.1950. The next target would be $1.2092.

AUD/USD falters near recent highs

It has been a relentless move higher for AUD/USD since mid-December.

However, the price stumbled at $0.7877 last week and has dropped back since then. Support at $0.7807 has yet to be tested. A fresh push above Friday’s highs targets $0.7897 in the short term.

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 IGA 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.