EUR/USD, GBP/USD and AUD/USD run into key resistance
EUR/USD, GBP/USD and AUD/USD gains look at risk, with Fibonacci retracement levels playing a key role in a potential move lower.
EUR/USD turns lower from key resistance
EUR/USD has reversed lower from the $1.1891 resistance level this morning, with the price moving back into the overnight swing low of $1.1865.
A decline through that support level would point towards a wider retracement of the rally from $1.1816 coming into play. As such, watch for a rebound or breakdown from $1.1816 to signal where we go over the day ahead.
GBP/USD faces questions after rally into Fibonacci resistance
GBP/USD has started to turn lower from the 76.4% Fibonacci resistance level this morning, with the recent break below trendline support pointing towards a potential reversal.
As such, watch out for whether we break below the $1.3244 swing low as a gauge of where we go from here.
AUD/USD rallies into 61.8% resistance level
AUD/USD has pushed into the 61.8% Fibonacci retracement level this morning, with the pair starting to weaken once again.
The trend of lower highs seen over the course of the week remains in play until we see a break through the $0.7331 resistance level. To the downside, a break below the $0.7266 level would signal an extension of the recent downward trend.
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.
