EUR/USD held below resistance as GBP/USD and AUD/USD move up
The rally in GBP/USD shows no sign of slowing, while AUD/USD is also attempting to break higher.
EUR/USD stuck below $1.14
The small rebound here continues with EUR/USD, although it has yet to break above the late December high.
This still looks more like a consolidation rather than a bigger move to the upside, so long as the $1.14 level remains unbroken. However, a bearish catalyst in price terms has yet to occur.
GBP/USD counter-trend bounce still flying
The strong bounce of GBP/USD from the lows of December shows no sign of reversing, and for now, the price appears to remain firmly in a bullish view, at least in the short term.
The wider downtrend is still intact, but as yet a new lower high has yet to be created.
AUD/USD rally hits 50-day SMA
The price of AUD/USD has rallied throughout the week, after stabilising around $0.716.
Over the past week or more gains above the falling 50-day simple moving average (SMA) $0.721 have not been sustained, so a daily close above this will be an important development. Further gains would then target $0.727. It would take a reversal back below $0.716 would provide a more bearish view.
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.
