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.

FX levels to watch: EUR/USD, GBP/USD and AUD/USD

EUR/USD, GBP/USD and AUD/USD are all in decline, yet with key support ahead, we need to see those broken for further downside to come into play.

Video poster image

EUR/USD falls into Fibonacci support

EUR/USD has dropped into the 76.4% retracement amid a sell-off that has brought us back into a crucial area of support. The wider trend highlights the creation of higher highs and higher lows, thus pointing towards a possible bullish reversal in the near future.

With an ascending trendline further down, there is a chance we could see another leg lower to bring that support line into play. However, until we break below $1.1301, there is a good chance that the bulls will soon return for EUR/USD. Watch for a break through the most recent swing high as a bullish confirmation signal (currently $1.1410).

EUR/USD chart
EUR/USD chart


GBP/USD continues to decline from 76.4% resistance

GBP/USD has been weakening consistently since hitting the 76.4% resistance level of $1.30. Whether this is simply another short-term retracement or the beginning of a wider bearish shift for the pair remains to be seen.

However, with a minimal rebound this morning being sold into straight away, it looks likely we will continue to tumble in the coming days.

GBP/USD chart
GBP/USD chart

AUD/USD at risk of another break lower

AUD/USD has been on the rise throughout the beginning of 2019, although the past week has seen the pair drift lower in what could be a topping pattern. The wider trend in AUD/USD is bearish, and thus until we break through the $7393 level, there is a chance that we will see this market turn over once more.

Crucially, it is worth watching the $7145 level as a guide to whether we are set for a protracted move lower or not. An hourly close below that level would bring about a likely period of downside for the pair.

AUD/USD chart
AUD/USD chart

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.

See your opportunity ?

Seize it now. Trade over 17 000 markets on our award-winning platform, with low spreads on indices, shares, commodities and more.

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.