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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 71% 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.

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

FX markets have calmed, but there is little sign of an abating of US dollar strength.

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EUR/USD holding $1.15 for now

EUR/USD continues to hold above the $1.1554 area for the time being, but there has not been much upside either.

A break of $1.1554 still indicates a much broader decline is in the offing, continuing the downtrend from late April. A move above $1.1750 is needed to break downtrend resistance.

GBP/USD finds little bullish strength

A bounce back above $1.33 for GBP/USD is needed to break downtrend resistance from the late April high.

Meanwhile, the close yesterday below the May low of $1.3204 also suggests further downside is likely. The next major area of support is $1.3039.

AUD/USD pushes lower

AUD/USD has established a new lower low in its current downtrend, and with momentum now oversold a rebound could begin to develop.

However, a close above $0.77 would be needed to indicate that a new longer-term move higher is underway. Further declines would bring $0.7310 into play.

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