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

The Federal Reserve (Fed) meeting failed to revive the US dollar, and it looks like more gains are in order for sterling and the euro.

EUR/USD uptrend revives

The price for EUR/USD has found buyers around $1.24, a higher low from the weakness at the beginning of the week around $1.2323.

Thus, we should expect further gains from here, with $1.25 and $1.2550 in view. It will require a move below $1.2323 to negate this view. 

GBP/USD recovery continues

The dip towards $1.40 provided another strong buying opportunity for GBP/USD.

The price is recovering from $1.40 and moving back towards last week’s highs at $1.4346. Longer term, the next move would be towards $1.4649.

AUD/USD stalls below $0.81

It has been a tough week for AUD/USD, faltering around the $0.81 level.

It looks as if a bigger dip could be taking place, with the next possible support at $0.79. A close back above $0.81 would target $0.8163.

IGA, may distribute information/research produced by its respective foreign marketing partners 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.

This information/research prepared by IGA or IG Group is intended for general circulation. 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 or 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. In addition to the disclaimer above, 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.

See important Research Disclaimer.

Find articles by writer

Find out more about