EUR/USD, GBP/USD and AUD/USD helped by dollar weakness

EUR/USD, GBP/USD and AUD/USD gains come off the back of dollar weakness, but will they continue?

EUR/USD continues its ascent amid dollar weakness

EUR/USD has continued its rise as we kick-start a new week, with the pair rising into the highest level in almost three-months.

Coming off the back of a range break last week, the next resistance level we have in view comes from the 1 September peak of $1.2011. With the uptrend still in play it makes sense to expect further upside from here, with a break back below the $1.1882 swing low required to bring about a more bearish outlook.

GBP/USD rallies back towards Fibonacci resistance

GBP/USD is on the rise in early trade, coming off the back of a largely bearish Friday session.

That decline took us back below the $1.3293 swing low, bringing about a greater chance that we will see the pair will enter a more bearish phase. With the price rising into the 76.4% Fibonacci retracement level, there is a good chance we could see the pair start to roll over from here. A break up through the likes of $1.3359 and $1.3397 would be required to negate that bearish view.

AUD/USD expected to rise despite morning weakness

AUD/USD is drifting lower in early trade, coming off the back of a bullish month thus far.

That upward trend still holds despite the retracement into the 61.8% Fibonacci support level this morning. With that in mind, further upside looks likely unless price falls back below the $0.7352 swing low.

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

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired

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

liveprices.javascriptrequired

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 Monday 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.