FX Majors - Weekly Technicals
EUR-USD – Gains should be limited to 1.5060
EUR-USD upticks are expected to be limited with 1.5060 resistance
Pullback to 1.4460 support remains favoured
Technically, sell upticks in EUR-USD
USD-CHF – Short-term dip should be limited
USD-CHF dropping, but 1.01-area support is expected to find USD-CHF buyers
Risk is still of a USD-CHF downtrend to 0.9645 and lower
Technically, bullish divergence builds for 1.0460 and then 1.0899 (38.2% retracement)
USD-JPY – Still under pressure, but…..
USD-JPY drop is expected to find support ahead of 88/87
Regaining 92.80 resistance is likely to be pivotal when seen
Technically, USD-JPY is a buy as long as 87 support holds
GBP-USD – Rally expected to fade
Regaining 1.6740 remains elusive, though key for 1.7040+
Dips to test 1.6120 support are expected
Technically, GBP-USD is expected to work lower to 1.5700 again over the next month
AUD-USD – Key test of upside ahead
AUD-USD needs to hold 0.9330 now to form a double top, avoid 0.9849+
Turn below 0.8900/0.8860 would confirm a top for 0.84 and lower
Technically, AUD-USD is expected to consolidate back to 0.8700 and lower
USD-CAD – Trend higher favoured
USD-CAD expected to test 1.1124+
Dips should find 1.0630, offering support now
Technically, USD-CAD is a buy on dips now ahead of key support at 1.0209
EUR-JPY – Selling upticks
EUR-JPY rally should be contained; 136 serves as resistance
A drop to 127 could be seen to probe the bottom of the range
Technically, customers should be looking for down-ticks
EUR-GBP – Probe of 0.8700 still attracts
EUR-GBP is grinding lower
Slippage below 0.8900 is expected
Technically, consolidation back to 0.87 is still targeted
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