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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, GBP/USD, AUD/USD

The dollar rally has eased off, but sterling is still struggling following a dovish BoE meeting. 

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EUR/USD rebounds

EUR/USD has finally managed to rebound, but it has given back some of its gains from yesterday.

A failure to push on above $1.1950 would signal that the sellers are back in charge, and would target $1.1820 and then down to $1.1717.

EUR/USD chart

GBP/USD unable to break out of range

The increased volatility of yesterday resulted in GBP/USD ending up where it started, still unable to break out of its $1.3480-$1.36 range.

A break of this is still required to indicate the next direction. However, the continued price action above $1.35 might suggest a rebound is in play, at least in the short term.

GBP/USD chart

AUD/USD may rebound

The substantial rally yesterday has raised hopes of a rebound for AUD/USD, but it needs to clear $0.7560.

Above here, $0.7650 comes into play, while a turn lower targets $0.7470 and Wednesday’s low at $0.7410. 

AUD/USD chart

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