AUD/USD, EUR/USD and GBP/USD rally as disappointing US data leads to US dollar depreciation
AUD/USD, EUR/USD and GBP/USD rally as disappointing US data leads to lower US yields and greenback weakness across the board.
![AUD](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/GT_AUD_18-04-24.jpg/jcr:content/renditions/original-size.webp)
EUR/USD trades in 2-month highs
EUR/USD rise above its May peak at $1.0895 puts the 24 January high at $1.0932 and the 21 March high at $1.0942 on the map ahead of the March high at $1.0981.
Previous resistance, because of inverse polarity, becomes support at $1.0895 to $1.0885.
![EUR/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/06/04/2024/06/04/EURUSD_2024-06-04_08-17-01.png/jcr:content/renditions/original-size.webp)
GBP/USD hits 2 1/2 month highs
GBP/USD rally off Thursday's $1.2681 low, made close to the 24 May low at $1.2676, has taken it to a 2 1/2 month high at $1.2818, close to the $1.2823 mid-March high. Further up beckons the March peak at $1.2894.
Potential slips may find support at the 22 May high at $1.2761.
![GBP/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/06/04/2024/06/04/GBPUSD_2024-06-04_08-17-08.png/jcr:content/renditions/original-size.webp)
AUD/USD breaks through resistance
AUD/USD recovery from Thursday's $0.6591 low has taken it to above the $0.6644 to $0.6667 resistance area to $0.6698 before giving back some of its gains and slipping back to the previous resistance zone, now because of inverse polarity a support area.
A rise above last week's $0.6698 would engage the $0.6714 mid-May high. If $0.6644 were to be fallen through, the support line at $0.6616 may be retested.
![AUD/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/06/04/2024/06/04/AUDUSD_2024-06-04_08-17-14.png/jcr:content/renditions/original-size.webp)
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
![](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/ContentImage/Forex global component NA banner.jpg/jcr:content/renditions/original-size.webp)
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
Prices above are subject to our website terms and agreements. Prices are indicative only