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CFDs are complex instruments. 70% 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.

FX levels to watch – EUR/USD, GBP/USD, AUD/USD

The Federal Reserve (Fed) meeting failed to revive the US dollar, and it looks like more gains are in order for sterling and the euro.

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EUR/USD uptrend revives

The price for EUR/USD has found buyers around $1.24, a higher low from the weakness at the beginning of the week around $1.2323.

Thus, we should expect further gains from here, with $1.25 and $1.2550 in view. It will require a move below $1.2323 to negate this view. 

EUR/USD price chart

GBP/USD recovery continues

The dip towards $1.40 provided another strong buying opportunity for GBP/USD.

The price is recovering from $1.40 and moving back towards last week’s highs at $1.4346. Longer term, the next move would be towards $1.4649.

GBP/USD price chart

AUD/USD stalls below $0.81

It has been a tough week for AUD/USD, faltering around the $0.81 level.

It looks as if a bigger dip could be taking place, with the next possible support at $0.79. A close back above $0.81 would target $0.8163.

AUD/USD price chart

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