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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

FX levels to watch – EUR/USD, GBP/USD, AUD/USD

The euro has rallied, but remains stuck in a downtrend, while cable’s news-related bounce has stalled. 

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EUR/USD bounce slows down

EUR/USD's bounce off the lows at $1.2250 appears to be running out of steam, with the downtrend from the February high still intact.

If a new lower high is created then we look to $1.2250 and then $1.2165 as downside targets.

EUR/USD chart

GBP/USD rally struggles with barrier

News of a transition deal between the UK and EU prompted another rally here for GBP/USD, but for now the $1.4070 level remains a barrier.

Above this, $1.4145 comes into play. A turn lower would target $1.3943 and then $1.3836.

GBP/USD chart

AUD/USD fails to hold constant rebound

There has been little sign of a sustained rebound here for AUD/USD, although the price continues to hold $0.7694.

If this breaks, then $0.7473 - $0.7519 come into view as potential areas of support, with $0.7654 along the way. Any rebound that fails to clear $0.7920 would still mark a higher low in the current downtrend. 

AUD/USD chart

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