EUR/USD and GBP/USD falter but AUD/USD keeps pushing higher

A stronger US dollar is hitting EUR/USD and GBP/USD, but AUD/USD is still attempting to push higher.

EUR/USD pushes lower again

The sellers appear to be in control in EUR/USD once more, as the price drops down further, having already lost ground over the past two sessions.

The loss of trendline support early yesterday was a signal that more weakness may be on the way, with further downside heading towards $1.083. A recovery back above $1.093 would help to negate the more bearish view and put the pair back on a path to challenge $1.10.

GBP/USD heading down after trendline break

The resurgence of the US dollar has dealt a major blow to the rally in cable over the past month, and may well signal that it is at an end. Like EUR/USD, the price of GBP/USD has dropped below rising trendline support and the bounce from Monday’s lows is now in the process of creating a lower high at $1.248.

Further declines below $1.24 bring $1.232 and $1.225 into view. Alternatively, the price needs to recover $1.25 to revive the bullish view.

AUD/USD looks to continue recovery

The AUD/USD pair has closed the weekend gap down and is busily attempting to recover more of the gains lost since last Thursday.

Having established a higher low at $0.6375 the price has pushed higher, but now needs to move on to clear $0.6475 to challenge the highs of last week above $0.655. With stochastics looking as if they are about to roll over, some bearish momentum may develop, bringing Monday’s lows at $0.6375 into play once again.

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

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 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.