EUR/USD, GBP/USD and AUD/USD approaching key bullish levels
EUR/USD, GBP/USD and AUD/USD appear to be building a more bullish outlook, with key resistance up ahead.
EUR/USD breaking higher to bring bullish outlook
EUR/USD has been building a case for a bullish move following the failed attempt to break below $1.09.
Friday’s rise through $1.1018 provided confirmation of that short-term bullish view with gains expected in the coming days. Conversely, a break back below the $1.09 level would provide us with a bearish continuation signal.
GBP/USD consolidates around key area
GBP/USD strength seen throughout the second half (H2) of last week has taken this pair towards crucial breakout zone that could pave the way for substantial upside if broken.
Thus, watch for whether we see the price push through the $1.2986 level to bring a wider bullish picture into play once again. For the near term, the resistance level to watch comes at $1.2954.
AUD/USD could be on the cusp of a bullish break
AUD/USD has rallied towards the swing high of $0.6779 this morning, building on the gains from Friday.
A break through this level would bring about a more bullish short-term view, with the pair looking likely to reverse such of the downside seen since the peak of $0.6834. With that in mind, the outlook will be driven by the ability or inability to break through this key $0.6779 resistance level.
IGA, may distribute information/research produced by its respective foreign affiliates 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.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. 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, and 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.
Please see important Research Disclaimer.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.