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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD, GBP/USD and AUD/USD declines ease off

The dollar has held its ground in the wake of the FOMC decision, holding back gains for the euro, sterling and the Aussie.

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EUR/USD still under selling pressure

After slumping to a new lower low for the current downtrend yesterday, EUR/USD has recovered slightly.

However, a bigger rebound will require a move back above $1.175. Additional declines target $1.1617.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD holds above $1.36

Here GBP/USD has stabilised too, as it returns to the $1.36 area.

Will it be able to make it bounce a third time? This would argue for a return to $1.39, with the bearish view suspended unless we can see a drop below $1.36.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD steadies after losses

AUD/USD has stabilised for now around $0.724, but it is not yet clear that a further bounce will materialise.

However, some early gains are providing hope for the buyers that a bounce is developing. A move back below $0.721 restores the bearish view.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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