EUR/USD and AUD/USD rally but GBP/USD lags
A weaker US dollar continues to give space for the euro and the Aussie to rally, although caution is being seen in sterling crosses.
EUR/USD remains above 200-day SMA
The EUR/USD pair continues to hold on to the highs seen yesterday, as it pushes on above the 200-day simple moving average (SMA) at $1.1353.
Having moved strongly higher over the past week, some consolidation seems likely, but the next move is to $1.145 and then $1.152. A bearish view requires a move back below $1.13.
GBP/USD wavers at recent highs
There has been some notable volatility here for GBP/USD so far this morning, with an attempted push above $1.276 being defeated for the time being.
Near-term areas of possible support are $1.271 and $1.266, but the bearish view would require a move back below $1.264.
AUD/USD continues to climb
This AUD/USD pair has seen a steady rally over the past few days.
Further gains above $0.697 will target $0.702. A deeper pullback heads towards $0.69, where the price bounced on 21 June. A failure to hold this level would bolster the bearish view. Some resistance may be encountered at the 50-day SMA ($0.697).
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.
