AUD/USD pushes higher while EUR/USD and GBP/USD move sideways
There has been little movement in the euro and sterling, but AUD/USD continues to gain as risk appetite remains healthy.
EUR/USD consolidates above $1.1350
EUR/USD continues to hold the $1.1350 area, as it has done for the previous two sessions.
This is also around the 200-day simple moving average (SMA), and if the pair continues to build a base a push back above $1.14 may be in the offing, targeting $1.1447. Below $1.135 the price heads towards $1.13 and $1.12.
GBP/USD trades in narrow range
While the price of GBP/USD has failed to breach $1.278, declines over the past two days have paused at $1.2665.
Short-term bounces have faltered at $1.27, so a break of this narrow range is needed to establish a new direction.
AUD/USD continues to climb
A steady rally goes on here, with the price of AUD/USD touching a three-week high. Volatility has been low, and small pullbacks remain the order of the day.
Gains in early June stalled at $0.702, although this also coincided with the 50-day SMA, and this has already been breached this time around. The positive view remains in place unless we see a move back below $0.692.
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.
