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 recover after Monday’s losses

The selling has eased off in several FX pairs, as risk appetite stages a tentative recovery.

Video poster image

EUR/USD

A small recovery here with EUR/USD has seen the price bounce from $1.17.

Buyers will be looking for a continued recovery that moves back above the 50-day simple moving average (SMA) at $1.1793, while sellers will view this as a brief respite before a fresh move back towards $1.167.

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

GBP/USD

GBP/USD has halted its losses for now at $1.365, although after three days of steep losses this is only a minor bounce.

The day could see a resumption of the move towards $1.36, and then below this the bearish view would be reinforced with the creation of a new lower low.

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

AUD/USD

AUD/USD rallied off the lows yesterday, stabilising after more than two weeks of declines, but this small bounce has yet to suggest a change in trend is near.

Further declines target $0.72 and then the August low at $0.7106. Buyers will need to see further gains above $0.73 to provide evidence a turn is at hand.

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.