EUR/USD, AUD/USD slip while GBP/USD stabilizes
EUR/USD, AUD/USD slip while GBP/USD stabilizes following hawkish Fed member Waller comments.
EUR/USD remains under pressure
EUR/USD slid below not just its 55-day simple moving averages (SMA) at $1.0843 but also its 200-day SMA at $1.0836, following Tuesday's brief rally to $1.0864.
Key short-term support between the late February and current March lows at $1.0802 to $1.0797 remains in sight, a drop through which would target the $1.0724 to $1.0695 region.
AUD/USD nears support
AUD/USD once more probes its February-to-March uptrend line, having been rejected by the 55-day SMA, now at $0.6553, on Tuesday.
A fall through recent lows and last week's $0.6504 trough would put the February low at $0.6443 on the cards. This level will remain in play as long as no bullish reversal above last week's $0.6634 high is seen.
GBP/USD still under pressure
GBP/USD still has the 200-day SMA at $1.2588 in view. Below it lies last week's low at $1.2576. Further down sits key support between the December-to-February lows at $1.2519 to $1.25 which remains in focus.
Resistance above Tuesday's $1.2668 high is seen along the 55-day SMA at $1.2679.
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
