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FX levels to watch: EUR/USD, GBP/USD and AUD/USD

EUR/USD, GBP/USD and AUD/USD are all holding above recent lows, but the broadly bearish view still prevails.

EUR/USD rallies off lows

EUR/USD’s rally off the $1.112 zone has been seen, but it will likely remain a possible selling opportunity.

An immediate target is $1.116, and from there $1.12. A close below $1.112 would mark a fresh push to the downside.

GBP/USD still pushing lower

GBP/USD has stabilised around $1.288, although the downtrend remains intact.

A close above $1.292, and then $1.296, would break the sequence of intraday lower highs. However, a failure to push on above $1.292 would mark another selling opportunity.

AUD/USD holds above $0.70

The sellers have failed to hold the AUD/USD price below $0.70, but the rebound needs to move back above $0.705 to suggest more upside is likely.

A close below $0.699 would open the way for further downside.

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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