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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 70% 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 under pressure

Dollar strength has seen EUR/USD, GBP/USD and AUD/USD all begin to lose forward momentum.

Euro Source: Bloomberg
Forex United States dollar Euro EUR/USD GBP/USD AUD/USD

Written by

Chris Beauchamp

Chris Beauchamp

Chief Market Analyst

Article publication date:

EUR/USD turning lower from resistance

Any further upside continues to contain at $1.105 for EUR/USD.

As a result, we look for the price to roll over and target $1.093. A move through $1.109 violates this bearish view and suggests a push towards previous support at $1.112.

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

GBP/USD stuck below $1.24

The GBP/USD pair continues to hit its head against $1.2366.

This stalling of progress raises the prospect of a turn lower should the price break back below $1.225. Alternatively, a break through $1.24 would mark a notable bullish development, opening the way to $1.26.

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

AUD/USD rally begins to stall

The price of AUD/USD has rebounded from its lower low at $0.67, but could be at risk of creating a lower high.

The price needs to move back above $0.70 to confirm the sustained rally. In the mean time, a move back below $0.683 would be a bearish development.

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. 70% 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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