Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.

FX levels to watch – EUR/USD, GBP/USD, AUD/USD

While the euro and Aussie continue to remain weak, sterling is enjoying a strong bounce. 

EUR/USD bounces, but still heading downwards

Further losses yesterday saw EUR/USD test the $1.23 level.

For now a bounce is in progress, but with the downtrend line still existence we would need to see a move back above $1.24 to reverse the bearish view.

GBP/USD looks to try and hit $1.40

GBP/USD continues to hold above the 50-day simple moving average (SMA) at $1.3918, and another run at $1.40 looks to be on the cards.

Above this, $1.4070 and then $1.4145 will be targets to watch. A close back below $1.3850 is needed to put a bearish outlook on the pair.

AUD/USD meets obstacles to recovery

AUD/USD is rebounding from big losses yesterday, but only modestly, and it now faces hurdles at $0.78, $0.7835 and $0.7850.

Further declines bring $0.7750 into view, and then $0.7712.

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.

Find articles by writer