EUR/USD, GBP/USD and AUD/USD push higher after recent declines
EUR/USD and GBP/USD turn higher amid recent consolidation. Meanwhile, the AUD/USD is starting to regain ground after sharp declines overnight.
EUR/USD turning higher after Fed sell-off
EUR/USD reversed lower yesterday despite a 25 basis-point (bp) rate cut from the Federal Reserve (Fed).
However, we remain within consolidation mode at the moment with the price turning higher to reverse yesterday's losses. With the price forming lower highs and higher lows, we do not have a particularly clear directional bias for the intraday picture. The wider trend is bearish and that theme is expected to return soon enough. However, for the moment it is worthwhile watching to see if the price can break through $1.1075 to bring about a more bullish short-term picture.

GBP/USD consolidates within recent uptrend
GBP/USD has been in a clear uptrend over the course of September this far, with the price continuing to create higher highs and higher lows.
The pullback seen on Wednesday looks to be another retracement and higher low. With that in mind, further upside is expected from here, with a break below $1.2393 required to bring about a more bearish outlook.

AUD/USD trading sharply lower after support break
AUD/USD sold off overnight with the price finally breaking back below the $0.6831-$0.6822 support zone.
With that out the way, there is a good chance we will see further downside to come before long. With the price currently looking like it could form a bullish engulfing, short-term gains look a distinct possibility. However, that historical zone of support turns into resistance, meaning that we could falter around $0.6822 for another leg lower.

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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.