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 holds firm, while AUD/USD tiptoes higher and GBP/USD remains near the lows

The euro is edging up against the dollar, as is the Aussie, but GBP/USD is stuck fast near recent lows.

EUR/USD trades sideways

Hopes of a recovery are bolstered by EUR/USD price holding $1.125.

However, it will need to break trendline resistance from the late October high, which points towards a rally above $1.132. Bears will continue to look for any short-term strength as a selling opportunity, while a break towards $1.12 and below revives the downtrend.

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

GBP/USD stuck at the lows

Little has changed here, and GBP/USD price continues to hover around $1.32.

Until the Federal Reserve (Fed) and Bank of England (BoE) meetings are out of the way, the outlook for this pair is clouded, but an overdue rebound towards $1.35 cannot be discounted.

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

AUD/USD edges up after losses

Bulls have managed to stabilise AUD/USD after the losses of Monday, holding support at $0.709.

If sellers can push the price back below this level a move down to the early December low will be back in prospect. Alternately, bulls will want to see a recovery above $0.718 to put the pair back on an upward footing, within the context of a much broader downtrend.

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

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