EUR/USD, GBP/USD and AUD/USD recover after Monday’s losses

The selling has eased off in several FX pairs, as risk appetite stages a tentative recovery.

EUR/USD

A small recovery here with EUR/USD has seen the price bounce from $1.17.

Buyers will be looking for a continued recovery that moves back above the 50-day simple moving average (SMA) at $1.1793, while sellers will view this as a brief respite before a fresh move back towards $1.167.

GBP/USD

GBP/USD has halted its losses for now at $1.365, although after three days of steep losses this is only a minor bounce.

The day could see a resumption of the move towards $1.36, and then below this the bearish view would be reinforced with the creation of a new lower low.

AUD/USD

AUD/USD rallied off the lows yesterday, stabilising after more than two weeks of declines, but this small bounce has yet to suggest a change in trend is near.

Further declines target $0.72 and then the August low at $0.7106. Buyers will need to see further gains above $0.73 to provide evidence a turn is at hand.

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.