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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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EUR/USD, GBP/USD and AUD/USD all in retreat

A resurgence in the dollar is hitting the euro, sterling and the Aussie hard, pushing them back towards their recent lows against the US currency.

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Forex United States dollar Euro Pound sterling EUR/USD GBP/USD
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

EUR/USD hit by greenback strength

With EUR/USD, the renewed dollar strength has begun to weigh on the pair once again, causing it to retreat in recent sessions back towards the low from earlier in the month.

A move below $1.185 would amplify the bearish view and support a drop back towards $1.17. Buyers will need to push the price back above $1.195 to help negate the bearish view.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD continues to retreat

GBP/USD is on the back foot, heading towards $1.38 as it gives back most of the ground won last week.

The lower high just below $1.40 reinforces the expectation of lower prices, and should put the price on course for further declines. Trendline resistance from mid-June continues to hold back any upside progress for the time being.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD heads sharply lower

With AUD/USD, the aforementioned USD strength continues to push the pair lower, creating a lower high at $0.76 and pushing the price back towards $0.748.

As with the other two pairs, the sellers are firmly in charge for the time being.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

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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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