FX levels to watch: EUR/USD, GBP/USD and AUD/USD

EUR/USD and GBP/USD are recovering, but AUD/USD is sounding a warning signal for the rebound in risk assets.

EUR/USD still in trend channel

EUR/USD continues to cleave to the rising channel, although we have yet to see a significant bounce.

Yesterday saw the index hold the $1.134 area. If this remains the case, the bullish view suggesting a bounce back towards $1.15 remains in place. A close below $1.134 brings horizontal support at $1.13 into play.

EUR/USD chart

EUR/USD chart

GBP/USD eyes up $1.30

Employment figures yesterday bolstered GBP/USD, reviving the uptrend. A fresh push above $1.30 will mark a bullish breakout, targeting $1.304 and then $1.32.

A firm move below $1.28 is needed to suggest that the sequence of higher lows has been broken.

GBP/USD chart

GBP/USD chart

AUD/USD keeps on declining

AUD/USD continued its downward move yesterday, providing further evidence that global risk appetite is waning.

A rally off the lows yesterday is faltering at $0.714, creating a lower high. Further declines target $0.712 and then $0.709.

AUD/USD chart

AUD/USD chart


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.

This information/research prepared by IGA or IGA 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.

Please see important Research Disclaimer.

See an opportunity to trade?

Go long or short on more than 16,000 markets with IG.

Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

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.

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.