EUR/USD, GBP/USD and AUD/USD drop on US dollar safe haven flows
EUR/USD, GBP/USD and AUD/USD slip as the US dollar appreciates due to flight to safety inflows amid escalation in the Middle East.
EUR/USD drops
EUR/USD comes off its $1.1201-to-$1.1214 August and September highs on flight-to-quality flows into the US dollar due to heightened tensions in the Middle East.
Minor resistance can now be seen at the 23 September low at $1.1084. Minor support below Monday's $1.1046 low is found along the 55-day simple moving average (SMA) at $1.1025 and at the $1.1002 September trough.
GBP/USD comes off its high
GBP/USD tumbled from its $1.3434 September 2022 low to $1.3267 August high which acts as support. Further down lie the 23 September low and 6 September high at $1.3249-to-$1.3239.
AUD/USD only sees minor dip
AUD/USD has come close to the January 2022 low at $0.6968 by rising to $0.6942 in September before dipping in early October. The cross will remain within a short-term uptrend while the 26 September low at $0.6819 underpins.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.
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
- Forex
- Shares
- Indices
