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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

Yet more dollar strength continues to bear down on the euro, sterling and the Aussie.

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EUR/USD still on the decline

The euro continues its descent, with no rebound in sight yet for EUR/USD.

The current downtrend would be broken with a move above $1.1880, but even then any rebound that fails to clear $1.21 would likely be a fresh selling opportunity. The next target on the downside is $1.1717, the December low.

EUR/USD price chart

GBP/USD holding for now

Consolidation appears to be the order of the day, as the GBP/USD price hovers around $1.35.

A bullish move requires a close above $1.3659. Further declines will target $1.3321.

GBP/USD price chart

AUD/USD selling continues

AUD/USD rallies have been sold since the beginning of the year.

While downward momentum looks strong at present, a rebound could be in the offing. This would require a move back above $0.7473.

AUD/USD price chart

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