EUR/USD, GBP/USD and AUD/USD all under pressure
Dollar strength has seen EUR/USD, GBP/USD and AUD/USD all begin to lose forward momentum.
EUR/USD turning lower from resistance
Any further upside continues to contain at $1.105 for EUR/USD.
As a result, we look for the price to roll over and target $1.093. A move through $1.109 violates this bearish view and suggests a push towards previous support at $1.112.
GBP/USD stuck below $1.24
The GBP/USD pair continues to hit its head against $1.2366.
This stalling of progress raises the prospect of a turn lower should the price break back below $1.225. Alternatively, a break through $1.24 would mark a notable bullish development, opening the way to $1.26.
AUD/USD rally begins to stall
The price of AUD/USD has rebounded from its lower low at $0.67, but could be at risk of creating a lower high.
The price needs to move back above $0.70 to confirm the sustained rally. In the mean time, a move back below $0.683 would be a bearish development.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market.
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
