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

The Fed’s dovish turn has pulled the rug out from underneath the US dollar, and given a lift to EUR/USD. Cable, however, remains weak as concerns grow over a possible extension to Article 50.

EUR/USD shoots higher after Fed

Yesterday’s Federal Reserve (Fed) meeting provided the spark to send the euro rallying, and crucially the price of EUR/USD was able to move above the February peak above $1.14.

A short retracement may provide the chance for a buying opportunity. Further gains will target $1.1516 and then $1.1554.

GBP/USD kept down by Brexit fears

A bearish turn seems likely here, as the GBP/USD price drops below $1.32.

Further declines target rising trendline support at $1.307, while trendline resistance from the highs of last week would suggest a rally towards $1.325 would provide another selling opportunity.

AUD/USD stuck at trendline and horizontal resistance

The price of AUD/USD has rallied sharply, but it has run into trendline resistance from the January highs, and also encountered horizontal resistance at $0.716.

A close above these two levels would mark a bullish development and bring $0.72 into play to begin with. A failure to break higher would suggest a move back towards $0.70.

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.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. 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, and 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.

Please see important Research Disclaimer.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

liveprices.javascriptrequired

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.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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.