Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

EUR/USD, GBP/USD and AUD/USD push higher after recent declines

EUR/USD and GBP/USD turn higher amid recent consolidation. Meanwhile, the AUD/USD is starting to regain ground after sharp declines overnight.

Video poster image

EUR/USD turning higher after Fed sell-off

EUR/USD reversed lower yesterday despite a 25 basis-point (bp) rate cut from the Federal Reserve (Fed).

However, we remain within consolidation mode at the moment with the price turning higher to reverse yesterday's losses. With the price forming lower highs and higher lows, we do not have a particularly clear directional bias for the intraday picture. The wider trend is bearish and that theme is expected to return soon enough. However, for the moment it is worthwhile watching to see if the price can break through $1.1075 to bring about a more bullish short-term picture.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD consolidates within recent uptrend

GBP/USD has been in a clear uptrend over the course of September this far, with the price continuing to create higher highs and higher lows.

The pullback seen on Wednesday looks to be another retracement and higher low. With that in mind, further upside is expected from here, with a break below $1.2393 required to bring about a more bearish outlook.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD trading sharply lower after support break

AUD/USD sold off overnight with the price finally breaking back below the $0.6831-$0.6822 support zone.

With that out the way, there is a good chance we will see further downside to come before long. With the price currently looking like it could form a bullish engulfing, short-term gains look a distinct possibility. However, that historical zone of support turns into resistance, meaning that we could falter around $0.6822 for another leg lower.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

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.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.