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.

EUR/USD, GBP/USD and AUD/USD recovering lost ground

EUR/USD, GBP/USD and AUD/USD regain lost ground, but how long will the rebound last?

Video poster image

EUR/USD on the rise, yet risk remains of another move lower

EUR/USD has been on the rise over the course of the week, with the price tentatively pushing through the 76.4% Fibonacci resistance level at $1.1771.

With trendline resistance also coming into play here, there is still a good chance we could see the bears return. A break back below $1.1726 would bring greater confidence that the price is going to start turning lower from here. Alternatively, a rise through $1.1804 would point towards a wider upward move for the pair.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD attempting to build on recent rebound

GBP/USD has been on the front foot over the course of the week, with the price rising back towards the confluence of $1.3786 and trendline resistance.

That recent rise comes after a deep retracement of the late-July rise from $1.3572, and we would need to see that level broken to solidify a bearish continuation signal. Until then, there is still a chance we see further ground regained, with the price starting to rise back towards this confluence of resistance around $1.3786.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD rallies towards confluence of resistance

AUD/USD has similarly been regaining ground this week, with the price rising back into the 61.8% Fibonacci resistance level at $0.727.

With a wider bearish trend in place, there is a strong chance we see another move lower before long. The confluence of Fibonacci and trendline resistance thus provides us with a zone of resistance that should spur a new move lower for the pair. Ultimately, we would need to see $0.7381 broken to bring about a more confident bullish view for AUD/USD.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

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.

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. Please see important Research Disclaimer.

Please also note that 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.

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

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.