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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. 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 financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

​​​AUD/USD probes key resistance while EUR/USD, GBP/USD advance ahead of US CPI print​​​

​​​AUD/USD probes key resistance while EUR/USD, GBP/USD advance ahead of closely followed US CPI release.​​

AUD Source: Getty Images

​​​AUD/USD probes key resistance

AUD/USD digs into the $0.6644 to $0.6667 key resistance zone. A rise above $0.6667 would target the $0.685 region.

​Immediate upside pressure should be maintained while Tuesday's low at $0.658 underpins on a daily chart closing basis.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

​EUR/USD nears downtrend line

​EUR/USD nears the $1.0832 tentative downtrend line, a daily chart close above which would put the April high at $1.0885 on the cards.

​Potential slips may find support along the 200- and 55-day simple moving averages (SMAs) at $1.0790-89.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​GBP/USD continues its ascent

GBP/USD has broken through the March-to-May tentative downtrend line at $1.2582 and tests the 55-day SMA at $1.2598. Further up beckons the early May peak at $1.2635.

​The currency pair remains bullish while above its $1.2466 early May low.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

This information has been prepared by IG, a trading name of IG 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.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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