EUR/USD, GBP/USD and AUD/USD all aiming for further gains
Risk-on moves in FX have lifted EUR/USD, GBP/USD and AUD/USD.
EUR/USD looking to clear $1.22
EUR/USD is edging back to through the $1.22 zone for a second day, having reversed Friday’s losses yesterday.
This leaves it on course to challenge $1.235, the peak from the beginning of the year. Sellers are still waiting for an indication of a move lower, with a drop below $1.21 needed to open the way to more significant downside.
GBP/USD recovers from mixed Monday
After shaking off some weakness yesterday, GBP/USD moved higher again.
We now look for a move back towards $1.424 and the highs from late February. As with EUR/USD, there is little sign of a reversal, with even yesterday’s small drop being met with buying.
AUD/USD looking to break higher
AUD/USD continues to find buyers above $0.77, and this, coupled with the slow but steady upward move in place since the end of March, reinforces the bullish view.
We could also see a firm break higher today from short-term trendline resistance from the May peak, as the descending triangle resolves into a bullish move given the continued defense of $0.77 by the buyers.
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.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
