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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 edges higher but GBP/USD and AUD/USD under pressure

A bout of risk-off moves has put pressure on the pound and the Aussie, but EUR/USD is trying to hold firm.

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EUR/USD attempts to move up

EUR/USD appears to have stabilised around $1.12 for now, but given the risk-off views across markets this respite may well be limited.

A rebound towards $1.14 would likely bring out the sellers once again, with a much bigger rally back to $1.15 needed to provide some evidence of a more bullish view emerging.

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

GBP/USD under pressure near $1.32

GBP/USD has hovered near a new lower low, as it breaks out of the descending channel that has been in place since July.

$1.3204, $1.3109 and then $1.3039 become the levels to watch on the downside, if selling gathers pace. A short-term rebound comes within the wider downtrend but could run back towards $1.347 and $1.3515.

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

AUD/USD slumps to lower low

The risk-off turn has amplified the move to the downside here with AUD/USD, and now the August low at $0.71 is under threat.

After a huge slump from the October peak the price seems content to keep moving lower, which could bring the $0.70 level itself into view.

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

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