EUR/USD, GBP/USD and AUD/USD push higher, as uptrends persist
EUR/USD, GBP/USD and AUD/USD push higher, with year-long uptrends expected to continue apace as the dollar comes under pressure
EUR/USD looks increasingly likely to break higher
EUR/USD has been attempting to push higher after a period of consolidation for the pair. That consolidation comes off the back of a bearish phase, with a head and shoulders formation completed at the beginning of the month.
However, with the price pushing up towards the $1.219 resistance level, a break through that point would signal the potential for a continuation of the wider bullish trend seen over the past year. As such, a rise through $1.219 raises that bullish story once again, with the latest short-term pullback looking likely to provide that next leg higher unless the price breaks below the $1.2091 swing low.
GBP/USD continues its incessant rise
GBP/USD is pushing higher yet again today, with the pair going from strength to strength. That bullish trend shows few signs of slowing down, with the bulls expected to remain in charge for some time yet.
A break below the $1.383 level could point towards some form of wider pullback coming into play. Until then, there is a strong chance we see further upside from here.
AUD/USD consolidates after recent push higher
AUD/USD has been on the rise over the course of the past year, with the latest push through $0.782 providing another continuation signal for that wider trend.
While the price has been consolidating since, we are likely looking at a pause before we continue to move towards the upside. With that in mind, a bullish view holds unless the price breaks below the $0.7724 support level.
The information 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 Bank S.A. 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 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.
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
- Take your position
- 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.
