Skip to content

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 and AUD/USD

The dollar has revived, putting pressure on other currencies around the globe.

Video poster image

EUR/USD fighting to hold $1.13

Once again the sellers have driven EUR/USD back towards $1.13, and once again the area continues to hold as support. This narrowing range likely signals that significant volatility is ahead.

A close above $1.14 would be needed to suggest that a more bullish view has taken over. Meanwhile, the sellers have to break below the $1.125-$1.13 area to spark a deeper retracement.

GBP/USD gains capped by resistance

Here too the lows of GBP/USD of the past few days continue to hold, with $1.27 in this case preventing further downside.

However, we continue to see resistance at each push towards $1.28, with lower highs still the result, maintaining the bearish view for the time being.

AUD/USD uptrend still intact

The rally off the lows of October is still intact, and the retracement over the past few days has pushed the price of AUD/USD back towards the $0.72 area.

Higher lows are still just about in evidence, so a bounce may develop from here. A move below the 50-day simple moving average (SMA) of $0.7185 would be a bearish development and raise the prospect of declines to $0.71 and $0.702.

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