EUR/USD, GBP/USD and AUD/USD surge as dollar continues to weaken
EUR/USD, GBP/USD and AUD/USD push higher once more, as the dollar comes under pressure yet again.
EUR/USD drives higher yet again
EUR/USD has seen another sharp move higher this morning, with the pair breaking into a fresh 22-month high. These gains are likely to persist as the pair attempts to move back towards the long-term descending trendline (currently around $1.187).
As such, it is a case of following the short-term trend higher, with a bullish outlook in place unless the price breaks below the $1.1581 support level.
GBP/USD breaks resistance to hit four-month high
GBP/USD has also managed to push higher in early trade, with the pair pushing through the $1.2813 June peak. That level could come back into play as support as we drift lower.
However, whether that level holds or not, a bullish outlook is in play here as long as we do not break below the recent swing low of $1.2717.
AUD/USD moves higher after recent pullback
AUD/USD managed to rebound from the trendline support last week, with the pair moving lower ever since. Importantly we have broken through the first swing high of $0.7125, signalling a likely continued push higher from here.
With that in mind, a bullish outlook is in play unless we see a break below the $0.7064 level.
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.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
