FX levels to watch: EUR/USD, GBP/USD and AUD/USD
EUR/USD, GBP/USD, and AUD/USD are continuing to show signs of strength as they push towards key resistance.
EUR/USD showing initial signs of resurgence
EUR/USD managed to rebound into the $1.125 resistance level earlier in the week, pointing towards a potential bullish phase coming into play.
With the pair having rallied through the $1.1419 peak prior to the recent heavy sell-off, there is grounds to believe that we could reverse higher before long. As such, watch for a break through $1.125 to provide a bullish buy signal. Until then, there is a chance we could retrace further as we close out the week.
GBP/USD pullback brings bulls back into play
GBP/USD has been gradually trending higher over the course of the week, with both higher highs and higher lows in play within the wider consolidation zone that has dominated the past month.
This latest move looks no different, with the pullback seen yesterday pointing towards another leg higher from here. This short-term bullish outlook holds unless we see a break below $1.3013.
AUD/USD trading around crucial resistance level
AUD/USD is trading marginally below the crucial $0.7132 resistance level this morning, following an overnight surge.
The ability to break through that $0.7132 level would be key to providing a wider bullish outlook for the pair. Until then, there is also a chance that we reverse lower given the importance of this peak in maintaining the recent downtrend.
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.
