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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 slips to fresh 13-month low while EUR/USD, GBP/USD range trade​​​

​​​AUD/USD slips to fresh 13-month low while EUR/USD, GBP/USD range trade​ ahead of Wednesday’s Fed rate decision and Thursday’s BoE monetary policy meeting.​

Forex Source: Adobe images
Forex Shares United States dollar EUR/USD GBP/USD AUD/USD
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​AUD/USD trades in fresh 13-month lows

AUD/USD trades in fresh 13-month lows and so far dipped to $0.63. Below this level the October 2023 low can be seen at $0.6271.

​Minor resistance above the 11 December low at $0.6337 is seen at Thursday's $0.6429 high.

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

​EUR/USD still side-lined

EUR/USD continues to range trade above Friday's $1.0454 low, made marginally below the early December low at $1.0461. The $1.06 region seems to be the upper end of the sideways trading range.

​Below $1.0454 lies the November $1.0333 low.

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

​GBP/USD loses upside momentum

GBP/USD remains close to but still below the September-to-December resistance line but above Monday's $1.2617 low. Below it lies the mid-November $1.2597 low.

​The 20 and 29 November highs at $1.2715-to-$1.275 continue to represent a resistance zone. Further up meanders the 200-day simple moving average (SMA) at $1.2817.

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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