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

FOMC minutes have put more life into the US dollar, although sterling has recovered slightly this morning.

EUR/USD keeps getting sold

EUR/USD intraday rallies continue to be sold, as we have seen over the past 24 hours.

Thus it seems we will push to $1.22 and $1.2166. Further declines from here would put the $1.21 level in play, and then the rising trendline from the April low.

GBP/USD finds support

The same pattern prevails here for GBP/USD, but the downward move is finding some buying so far this morning.

A move higher would target $1.40 and then $1.4150, with the January high at $.14345 the next big target. More substantial declines still target $1.3770 and then $1.3659.

AUD/USD attempts to rally

The sharp losses of the past few days have given way to some small gains for AUD/USD around the $0.78 level.

A bounce from here would target the $0.7850 zone, and then on to $0.80, while further declines bring $0.7750 into play.

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