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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

​​​​EUR/GBP and EUR/JPY both move higher, as AUD/USD stabilises after recent losses​​​​

​​Euro strength has seen EUR/GBP and EUR/JPY push higher, the latter to levels not seen since before the Global Financial Crisis. Meanwhile, losses in AUD/USD have been stemmed for now.

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​​​EUR/GBP makes further headway

EUR/GBP gains continue, with the price moving back above £0.86 and putting itself back on course to target the recent highs around £0.87.

​Rising trendline support from the July low and the 50-day simple moving average (SMA) have helped to support price action, and it would need a move back below £0.85 to suggest that a new bearish view prevails.

EUR/GBP chart Source: ProRealTime
EUR/GBP chart Source: ProRealTime

​AUD/USD stabilises around May lows

​The ​AUD/USD has bottomed out for the time being, or at least the selling has slowed after the steep declines of July and early August. For now support is holding around $0.65, the low of late May, providing some hope for the buyers.

​Sellers will want to see a close below this level to resume the bearish move, but even a rebound towards $0.67 could still see fresh selling pressure to emerge.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

​EUR/JPY at new sixteen year high

​Early gains today have seen the ​EUR/JPY rally to a new 16-year high. The bounce has seen dip buyers from late July rewarded with a breakout above ¥157.95 resistance. This level held back gains in June and July, but renewed EUR strength has allowed the price to push higher once more.

​The medium-term view would now suggest a move to the 2007/2008 highs around ¥168.95. Dips are likely to remain buying opportunities, but a close back below ¥156.00 might suggest that some short-term weakness was in order.

EUR/JPY chart Source: ProRealTime
EUR/JPY chart Source: ProRealTime

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