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.

AUD/USD pushes higher while EUR/USD and GBP/USD move sideways

There has been little movement in the euro and sterling, but AUD/USD continues to gain as risk appetite remains healthy.

EUR/USD consolidates above $1.1350

EUR/USD continues to hold the $1.1350 area, as it has done for the previous two sessions.

This is also around the 200-day simple moving average (SMA), and if the pair continues to build a base a push back above $1.14 may be in the offing, targeting $1.1447. Below $1.135 the price heads towards $1.13 and $1.12.

GBP/USD trades in narrow range

While the price of GBP/USD has failed to breach $1.278, declines over the past two days have paused at $1.2665.

Short-term bounces have faltered at $1.27, so a break of this narrow range is needed to establish a new direction.

AUD/USD continues to climb

A steady rally goes on here, with the price of AUD/USD touching a three-week high. Volatility has been low, and small pullbacks remain the order of the day.

Gains in early June stalled at $0.702, although this also coincided with the 50-day SMA, and this has already been breached this time around. The positive view remains in place unless we see a move back below $0.692.

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

liveprices.javascriptrequired

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.