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

The euro has managed to rebound in the short term, while GBP/USD and AUD/USD may well be carving out higher lows.

EUR/USD recovers $1.13, but for how long?

EUR/USD finally managed a substantial rally yesterday, moving off $1.126 and heading towards $1.134, but at present it looks like a lower high has been created. Further downside targets $1.126, and then to $1.1118.

If bulls can hold the price above $1.126 and create a higher high, it is possible that a more bullish view will develop, but at present this seems unlikely.

EUR/USD chart

EUR/USD chart

Possible higher low for GBP/USD?

It may be that GBP/USD has found a bottom around $1.284.

The price has rallied off the lows and started to move higher, but it will need to maintain this momentum and push above $1.294 to suggest that a higher low is in place. This would then suggest a move back towards $1.32 is possible. A close below $1.2773 would negate the bullish view and bring the lows around $1.248 into play.

GBP/USD chart

GBP/USD chart

AUD/USD steadies around $0.71

It is possible that AUD/USD has begun to bottom out, as the price moves back above $0.71.

Further gains target $0.728, around the highs from the end of January. A fresh bearish view would require a move back below $0.705.

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.

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
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 15 mins.

Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

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.