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

AUD/USD pushes higher while EUR/USD and GBP/USD move sideways

There has been little movement in the euro and sterling, but AUD/USD continues to gain as risk appetite remains healthy.

EUR/USD consolidates above $1.1350

EUR/USD continues to hold the $1.1350 area, as it has done for the previous two sessions.

This is also around the 200-day simple moving average (SMA), and if the pair continues to build a base a push back above $1.14 may be in the offing, targeting $1.1447. Below $1.135 the price heads towards $1.13 and $1.12.

GBP/USD trades in narrow range

While the price of GBP/USD has failed to breach $1.278, declines over the past two days have paused at $1.2665.

Short-term bounces have faltered at $1.27, so a break of this narrow range is needed to establish a new direction.

AUD/USD continues to climb

A steady rally goes on here, with the price of AUD/USD touching a three-week high. Volatility has been low, and small pullbacks remain the order of the day.

Gains in early June stalled at $0.702, although this also coincided with the 50-day SMA, and this has already been breached this time around. The positive view remains in place unless we see a move back below $0.692.

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.

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