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.

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

The dollar remains under pressure for the time being, with the euro, sterling and the Aussie all making small gains after weeks of losses.

EUR/USD bulls make modest gains

The price of EUR/USD continues to hold $1.112, the lows from last week and key support back in June 2017.

A bounce targets $1.125 and trendline resistance from the March high, and a breakout above here targets $1.132 and then $1.145. A close below $1.112 reignites the bearish move.

GBP/USD builds on last week’s low

It looks like a short-term low has been created for GBP/USD, but the rebound now targets $1.30 and trendline resistance from the March high.

Above this, $1.304 and then $1.312 come into view, with a push above the 24 April high at $1.296 breaking through a previous lower high. A further decline below $1.287 would head towards the February low at $1.277.

AUD/USD tiptoes higher

The AUD/USD pair has seen steady gains over the past three sessions, finding a low around $0.70 for the time being.

Friday saw the rally peter out around $0.706, so a failure to push above here would be a bearish development. Further gains target $0.71, then on to $0.716 and $0.72. Below $0.70 the price heads towards $0.697 and then $0.683.

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.