The Dollar-Index printed a low of 97.726 last week just at the decisive support zone but has finally closed the week safely above the 98.00 treshold. The upside is capped by 99.30/40 for now as we get mixed signals from different Dollar crosses. Above the resistance zone, however, the 100 should act like a magnet and it would be surprising if the Dollar doesn't aim for a test at its current strength.
(weekly chart)
(source: fxstreet.com)
EURUSD -- 1.0991
The 1.1000 treshold is big and it is in the nature of things that you get bearish below respective bullish above that level. But finally the Euro consolidates between 1.0900 and 1.1100 and 1.1000 is just in the middle of the recent trading range. In this respect, it is better to keep your hands off the Euro at the current spot rate.
(daily chart)
GBPUSD -- 1.3182
The descending support line from the downtrend channel has held for now. If Cable breaks above 1.3250, it could hit the upper trendline again (1.34 ish). Nevertheless, the general trend is downwards and bulls do not want to see the currency pair trading below the 1.30 mark.
(weekly chart)
USDJPY -- 120.95
The currency pair is having a very good run and is entering overbought territory on every time frame. Anyway it looks like nothing can stop the sell off in YEN for now and you have to look far into the past to find any technical levels above current spot. Of course, the rally could also end here, but where do you want to put the stop for shorts?
(monthly chart)
AUDUSD -- 0.7417
Amid soaring risk markets the Aussie could particularly benefit last week. The currency pair needs to break above 0.7445/50 for the next leg higher. Together with the upper ascending trend line (0.7447) of the upward channel and the upper Bollinger band (0.7449), the recent high at 0.7442 forms a resistance zone that could be used to try a short.
(daily chart)
Good luck,
Sebbo