FX levels to watch: EUR/USD, GBP/USD and AUD/USD
EUR/USD and GBP/USD are recovering, but AUD/USD is sounding a warning signal for the rebound in risk assets.
EUR/USD still in trend channel
EUR/USD continues to cleave to the rising channel, although we have yet to see a significant bounce.
Yesterday saw the index hold the $1.134 area. If this remains the case, the bullish view suggesting a bounce back towards $1.15 remains in place. A close below $1.134 brings horizontal support at $1.13 into play.
GBP/USD eyes up $1.30
Employment figures yesterday bolstered GBP/USD, reviving the uptrend. A fresh push above $1.30 will mark a bullish breakout, targeting $1.304 and then $1.32.
A firm move below $1.28 is needed to suggest that the sequence of higher lows has been broken.
AUD/USD keeps on declining
AUD/USD continued its downward move yesterday, providing further evidence that global risk appetite is waning.
A rally off the lows yesterday is faltering at $0.714, creating a lower high. Further declines target $0.712 and then $0.709.
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.
See an opportunity to trade?
Go long or short on more than 16,000 markets with IG.
Spread bet and trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
You might be interested in…
Find out what charges your trades could incur with our transparent fee structure.
Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.
Stay on top of upcoming market-moving events with our customisable economic calendar.