EUR/USD, GBP/USD and AUD/USD keel over
EUR/USD, GBP/USD and AUD/USD keel over and may soon resume their declines amid a strengthening US dollar.
EUR/USD keels over
EUR/USD is being rejected by the $1.0436-to-$1.0460 resistance zone and may soon slip towards the 20 December $1.0344 low and even the $1.0225 early January low.
Above $1.0460 lies the mid-December high at $1.0534.
GBP/USD tops out
GBP/USD may be in the process of resuming its descent towards its 15-month $1.2100 low, provided that no advance above the $1.2400 mark is seen.
A slip through the $1.2100 level would target the October 2023 low at $1.2038, as well as the psychological $1.2000 mark.
Arise and daily chart close above the $1.2400 level would push the November low at $1.2488 to the fore.
AUD/USD capped by resistance
AUD/USD's recovery from its mid-January $0.6132 low has so far taken it to $0.6295, close to the $0.6302 early January high which still caps. Provided this level caps, the medium-term downtrend may soon resume.
A fall through the $0.6132 current January low would eye the October 2008 low at $0.6009.
If $0.6302 were to be exceeded on a daily chart closing basis, however, the 11 December low at $0.6337 would be in focus.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
