FX levels to watch: EUR/USD, GBP/USD and AUD/USD
The euro has put the ECB meeting behind it and is pushing higher, while the Australian dollar has also been able to record further gains against the greenback.
EUR/USD shrugs off post-ECB weakness
Pullbacks towards $1.126 may provide another buying opportunity, while above $1.13 the $1.145 area comes into view as a target.
GBP/USD stuck in sideways pattern
Rallies to $1.312 this week have failed to produce much progress for GBP/USD, and with the price turning lower below $1.31 it looks like another test of $1.304 and then $1.299 is in the offing.
If the price does move higher, $1.319 becomes the next target to watch on the upside.
AUD/USD continues to carve out new uptrend
Last week saw the AUD/USD bottom out around $0.706, and since then higher highs and higher lows have been seen.
The pair found support around $0.7115, creating a new higher low, but some weakness has been seen overnight. A move below $0.7115 provides a more bearish view, targeting $0.709, but a recovery targets the highs of the week at $0.717.
This information has been prepared by IG, a trading name of IG Markets 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