Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD, GBP/USD and AUD/USD ease back on dollar strength

EUR/USD, GBP/USD, and AUD/USD head lower, with the dollar gaining ground off haven demand.

EUR/USD drifts lower after recent rally

EUR/USD has started to drift lower since Friday’s peak of $1.1804, with the pair taking a breather from a recovery phase. The pair looks likely to rise towards the deeper Fibonacci retracement levels of $1.1831-$1.1861.

With that in mind, the current pullback looks like a potential precursor to the pair heading higher once again. A break below the $1.1704 level would be required to bring a bearish continuation signal back into play.

GBP/USD falls back into support

GBP/USD failed to overcome the $1.3888 resistance level yesterday, with the recent downtrend thus remaining intact.

A break up through that level would bring about a more bullish picture once again. Until then, the $1.3791 support levels comes into play here, with a decline through this level bringing about a bearish continuation signal.

AUD/USD tumbles into fresh eight-month low

AUD/USD has been on the back foot overnight, with the Reserve Bank of Australia (RBA) preparing to hold off on tapering in the face of lockdown restrictions.

The break below $0.7289 points towards a potential push lower from here, with a bearish outlook in play unless we see a break up through the $0.7381 swing high.

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