EUR/USD, GBP/USD and AUD/USD expected to maintain bullish trajectory
EUR/USD, GBP/USD and AUD/USD look set for further upside, as the dollar continues to fall out of favour.
EUR/USD continues to climbs back towards range top
EUR/USD is on the rise once again, with the pair pushing back towards the key $1.192 resistance level. That level represents the top of a range which has restricted the price action for over two months now.
With that in mind, further short-term upside looks likely to bring the price back into that $1.192 level. However, how we react to that level will be key in determining the medium term outlook. A break below the overnight low of $1.185 would be required to bring about a more bearish short-term outlook.
GBP/USD pushes higher ahead of potential Brexit breakthrough
GBP/USD is on the rise as traders prepare for a potential breakthrough in trade talks with the EU. The pair is pushing back towards the recent peak of $1.3313, which provides the key breakout level for the near term.
We are clearly trading within a wider uptrend here, which has been in play for two months now. As such, further upside seems likely, with a break below the $1.3165 level required to signal the beginning of a wider pullback in this pair.
AUD/USD turning towards key resistance once more
AUD/USD is on the rise this morning, with the weakness seen from the $0.734 level yesterday ultimately looking like a retracement before we move higher once again.
The ability to break through $0.734 is important here, with a rise through that level providing a multi-month high. As such, the recent uptrend does point towards further upside from here, yet a break through $0.734 would provide greater confidence to that upside trend. That bullish outlook holds unless we see a move back below the $0.7221 support level.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
