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. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority.

EUR/USD, GBP/USD and NZD/USD on the rise after recent dollar strength

EUR/USD, GBP/USD, and NZD/USD are on the rise, but questions remain over whether this will be long-lasting or fleeting in nature.

EUR/USD rises from key support level

EUR/USD has once again rebounded from the $1.1754 support level, with the pair pushing upwards as we head towards the weekend. However, with lower highs and flatlining lows established this month, there is a good case for expecting this current rise to falter once again.

Should this rally be a retracement, then the 76.4% Fibonacci resistance level at $1.1875 would look a good potential shorting opportunity. It is worthwhile noting that the wider bullish trend does still remain in play, yet the repeated return to that $1.1754 level does signal the potential for a top to be coming into play. A break through the $1.1917 level would be required to bring a renewed bullish outlook.

GBP/USD rises towards swing high

GBP/USD has been gaining ground as it pushes towards the $1.3035 swing high this morning.

The volatility seen yesterday highlights the potential for another bearish turn from here, with the short-term downtrend still in play unless we see a break through the $1.3035 swing high. As such, today's price action will be key, with the ability or inability to break through $1.3035 telling us a lot about where we go from here.

NZD/USD breaks into fresh 17-month high

NZD/USD has continued its rise, with the pair pushing through the $0.6790 level to bring about a fresh bullish signal.

The wider uptrend remains intact, with further gains looking likely before long. A break below the $0.6675 level would bring a more negative outlook, with a bullish view in play unless that happens.

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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.8 pips on EUR/USD
  • Analyze market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on the most popular forex markets


Prices above are subject to our website terms and agreements. Prices are indicative only

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 forex provider.

Stay on top of upcoming market-moving events with our customisable economic calendar.