Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.

EUR/USD and GBP/USD lead the way lower, as AUD/USD starts to follow

EUR/USD and GBP/USD are leading the losses, with AUD/USD showing tentative signs of a bearish reversal.

EUR/USD heads towards key support level

EUR/USD failed to break through the $1.1285 swing high yesterday, with the pair turning lower in response.

The breakout from this $1.1238-$1.1286 zone will tell us a lot about where the pair is heading, with the current sell-off heading back towards the lower end of that zone. As such, further downside looks likely, yet we could continue to consolidate if that $1.1238 support level is not broken. If it is, then there is a good chance we will head back towards the critical $1.1193 lows.

GBP/USD breaks key support, as wider downtrend comes back into play

GBP/USD declined through the $1.2509 support level this morning, bringing about a sharp bout of selling for the pair.

This takes us back on course to challenge the critical $1.2435 support level once more. Should that occur, we would post a new two-year low and decline into an area with very little support of note. With that in mind, watch out for further downside, with the current break below the 76.4% Fibonacci retracement pointing towards a rising likeliness of a move into $1.2439.

AUD/USD rolling over after recent gains

AUD/USD is somewhat delayed in its weakness, with a dovish Reserve Bank of Australia (RBA) statement doing little to reverse this pair.

However, with the price having moved into the $0.7048 resistance level, it looks like we are now beginning to show signs of a bearish reversal. Watch for a break through the $0.7026 swing low as a signal of impending downside and a breakout from the intraday uptrend that has dominated the past week.

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

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
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.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets 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 spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.