EUR/USD is taking a hit while EUR/GBP drops and AUD/USD rally stalls
EUR/USD is taking a hit as US dollar bounces back on solid US data while EUR/GBP drops and AUD/USD rally stalls.
EUR/USD rally stalls
EUR/USD's fall through Thursday's low at $1.1098 neutralizes our short-term outlook.
This level has now become resistance while minor support can be found at Thursday's $1.1056 low, below which lies the $1.1047-40 support zone.
EUR/GBP slips further still
EUR/GBP nears the June-to-July lows at £0.8398-to-£0.8378 which are expected to offer support. Short-term it may try to stabilize above or within this area. If not, the way would open up for the 2 August 2022 low at £0.824 to be reached.
Minor resistance is seen along the 55-day simple moving average (SMA) at £0.8468.
AUD/USD remains bid, for now at least
AUD/USD has reached the 10 May 2023 high at $0.6819 which acted as resistance. Nonetheless, upside pressure will remain in play while Tuesday's low at $0.6762 and the 21 August high at $0.6761 underpin. Further potential support lies sits at the $0.6698 level, made up of the 4 June high and 22 August low.
Above Thursday's high at $0.6824 lie the January high at $0.6839 and the December peak at $0.6871 round which the cross may run out of steam.
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.
