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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.

FX levels to watch – EUR/USD, GBP/USD, AUD/USD

FX markets have calmed, but there is little sign of an abating of US dollar strength.

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EUR/USD holding $1.15 for now

EUR/USD continues to hold above the $1.1554 area for the time being, but there has not been much upside either.

A break of $1.1554 still indicates a much broader decline is in the offing, continuing the downtrend from late April. A move above $1.1750 is needed to break downtrend resistance.

GBP/USD finds little bullish strength

A bounce back above $1.33 for GBP/USD is needed to break downtrend resistance from the late April high.

Meanwhile, the close yesterday below the May low of $1.3204 also suggests further downside is likely. The next major area of support is $1.3039.

AUD/USD pushes lower

AUD/USD has established a new lower low in its current downtrend, and with momentum now oversold a rebound could begin to develop.

However, a close above $0.77 would be needed to indicate that a new longer-term move higher is underway. Further declines would bring $0.7310 into play.

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