Forex Technical Analysis

US Dollar Index failed to hold above 97.00 and has started to retreat again retesting 96.70 with next potential support in the 96.20 to 96.40 area.

EURUSD continues to attract support above $1.1000 and RSI suggests downward pressure starting to ease off but it still hasn’t been able to rebound very far, only up into the $1.1045 to $1.1080 area with resistance near $1.1111 and the 200-day average.

NZDUSD remains under accumulation as it continues to rise up off a higher low near $0.6730 toward $0.6780 with next resistance near $0.6855 then $0.6900. RSI holding well above 50 confirms underlying upward momentum intact.

AUDUSD continues to drift back in a normal trading correction but appears vulnerable. Currently testing $0.7200 with next potential support near $0.7150 but RSI is testing 50 which could end with confirmation of a broader uptrend or a downturn signal.

USDJPY has started on a new downswing after successfully retesting channel and 200-day moving average resistance near 121.00. It has dropped to test the 50-day near 120.25 with next support near the 120.00 round number then 119.00.

EURJPY continues to decline, falling to test channel support near 132.00 while RSI under 50 and falling indicates downward momentum increasing. Next potential support on a breakdown near the $1.3000 round number. Upside resistance falls toward 133.10.

CADJPY is breaking down today, taking out 91.50 to signal the start of a downswing within its 88.80 to 93.20 trading channel. RSI falling under 50 confirms the downturn in momentum. Next potential support near the 90.00 round number.

USDSGD is sending mixed signals. It remains in a downtrend below $1.4000 currently trading near $1.3960 with next support near $1.3890 then $1.3840 and $1.3720. RSI however suggests downward pressure easing and an upturn possible

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