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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. 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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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​​​AUD/USD, EUR/USD and GBP/USD bounce off Thursday’s lows​​​

​​​AUD/USD, EUR/USD and GBP/USD bounce off Thursday’s lows​ ahead of Friday’s US PCE inflation reading.​

USD Source: Getty Images
Forex United States dollar EUR/USD GBP/USD AUD/USD Euro
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​AUD/USD revisits resistance

AUD/USD is recovering from Thursday's $0.6591 low towards the $0.6644 to $0.6667 resistance area which may cap again, though. If $0.6591 were to be fallen through, the 55-day simple moving average (SMA) at $0.6561 might be in sight.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

EUR/USD tries to stabilize

EUR/USD once again managed to bounce off its breached March-to-May downtrend line which, because of inverse polarity, acted as support, together with the 200-day SMA at $1.0787. While the next lower 55-day SMA at $1.0780 holds, short-term sideways trading remains to be seen.

​ Minor resistance sits at the $1.0836 mid-May low.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​GBP/USD stabilizes

​This week's GBP/USD decline paused at Thursday's $1.2681 low, made close to the 24 May low at $1.2676. While these levels underpin, further range trading is likely to be witnessed. A drop below these lows would engage the April-to-May tentative uptrend line at $1.2628, however.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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