Majors on Tuesday: USD Trying to Rebound
Rowan Crosby • 1 min read
The USD was once again in focus on Monday as traders in the US returned after a nice few days away from the screens. Attention was firmly on what sort of a response the US might have. It turns out that the USD fell to the level I spoke about yesterday 92.60, before staging a bit of a rebound.
The majors moved around a little with the JPY continuing to gain momentum and the EUR pulling back towards the 1.1900 level after a really strong prior week.
AUD/USD – The AUD tried to rally but hit 0.7640 and sold off. Continue to target this resistance. Our sell signal is still live.
EUR/USD – The Euro Fell back towards the 1.1900. Looking for potential buys at and below this level.
USD/JPY – The JPY continues to be strong against most currencies and now the USD/JPY is bearish.
NZD/USD – The Kiwi looks to have put in a bit of a base and is trying to push higher. Will wait on price action and see if it can rally.
USD/CAD -The CAD is still in its longer-term range.
USD/CHF – 0.9750 is now the downside target in the Swissy.
GBP/USD – We’ve tried to break out, but that has failed. Although there is an uptrend in place.
US Dollar Index (DXY) – The USD has strengthened in early trade this week, but can it regain its strength?