EUR/USD and AUD/USD rally but GBP/USD lags
A weaker US dollar continues to give space for the euro and the Aussie to rally, although caution is being seen in sterling crosses.
EUR/USD remains above 200-day SMA
The EUR/USD pair continues to hold on to the highs seen yesterday, as it pushes on above the 200-day simple moving average (SMA) at $1.1353.
Having moved strongly higher over the past week, some consolidation seems likely, but the next move is to $1.145 and then $1.152. A bearish view requires a move back below $1.13.
GBP/USD wavers at recent highs
There has been some notable volatility here for GBP/USD so far this morning, with an attempted push above $1.276 being defeated for the time being.
Near-term areas of possible support are $1.271 and $1.266, but the bearish view would require a move back below $1.264.
AUD/USD continues to climb
This AUD/USD pair has seen a steady rally over the past few days.
Further gains above $0.697 will target $0.702. A deeper pullback heads towards $0.69, where the price bounced on 21 June. A failure to hold this level would bolster the bearish view. Some resistance may be encountered at the 50-day SMA ($0.697).
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.
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