Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD and AUD/USD all in retreat

A resurgence in the dollar is hitting the euro, sterling and the Aussie hard, pushing them back towards their recent lows against the US currency.

EUR/USD hit by greenback strength

With EUR/USD, the renewed dollar strength has begun to weigh on the pair once again, causing it to retreat in recent sessions back towards the low from earlier in the month.

A move below $1.185 would amplify the bearish view and support a drop back towards $1.17. Buyers will need to push the price back above $1.195 to help negate the bearish view.

GBP/USD continues to retreat

GBP/USD is on the back foot, heading towards $1.38 as it gives back most of the ground won last week.

The lower high just below $1.40 reinforces the expectation of lower prices, and should put the price on course for further declines. Trendline resistance from mid-June continues to hold back any upside progress for the time being.

AUD/USD heads sharply lower

With AUD/USD, the aforementioned USD strength continues to push the pair lower, creating a lower high at $0.76 and pushing the price back towards $0.748.

As with the other two pairs, the sellers are firmly in charge for the time being.

This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Any research provided should be considered as promotional and was prepared in accordance with CFTC 1.71 and designed to promote the independence of investment research. See our Summary Conflicts Policy, available on our website.

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