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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

FX levels to watch – EUR/USD, AUD/USD

Dollar strength has knocked back both the euro and the Aussie this morning.

EUR/USD
Source: Bloomberg

EUR/USD suffers sharp losses

EUR/USD continues to head towards the November rising trendline.

Support may be found around $1.1850. Alternately, with the price already oversold on the four-hour chart, we may see a bounce around $1.1950. The next target would be $1.2092.

EUR/USD price chart

AUD/USD falters near recent highs

It has been a relentless move higher for AUD/USD since mid-December.

However, the price stumbled at $0.7877 last week and has dropped back since then. Support at $0.7807 has yet to be tested. A fresh push above Friday’s highs targets $0.7897 in the short term.

AUD/USD price chart

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