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

The one to watch as Christmas nears may be AUD/USD, which is aiming for further gains after rebounding from its lows.

EUR/USD aims for a breakthrough

Once again EUR/USD has returned to the $1.1858 level, where gains stalled at the end of last week.

Above here $1.1879 comes into play, and then the pair would look to move back to $1.1950. A turn lower targets $1.1808 and then $1.1725.

GBP/USD prepares to move lower

Despite GBP/USD's bounce from the lows, the price is unable to push on back to $1.3467.

A renewed drop heads towards $1.3341 and then $1.33. 

AUD/USD consolidates after bounce

Having bottomed out earlier this month, AUD/USD has rallied strongly, and may well have further gains in it.

While off the $0.77 high of last week, it has found consistent support around the $0.7650 area, which are the highs from 5 December. Above $0.7694, the price will head towards $0.7748.

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.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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.