Forex Technical Analysis

US Dollar Index keeps drifting lower following a recent failure to clear 98.00 resistance. The index has fallen back under 97.00 with next support near 96.55 then 96.00. RSI falling back toward 50 indicates upward momentum fading.

EURUSD has regained $1.1000 which may be becoming new support with the pair having bounced up off of $1.0900. RSI suggests downward pressure easing. It’s currently testing $1.1050 but really needs to clear $1.1110 to confirm a new upswing underway.

EURGBP is trying to bounce up off of 0.7100, climbing toward 0.7150 but the pair and the RSI remain in broader downtrends.

GBPUSD has run into resistance near $1.5500 for now with more possible near $1.5580. It remains in an upswing though with RSI back above 50 and support rising toward $1.5460 from $1.5430.

USDCAD is steady near $1.3100 near the middle of a side $1.2890 to $1.3340 trading range. RSI slipping back under 50 indicates momentum turning downward with next support near $1.3060.

CADUSD is holding steady in the $0.7620 to $0.7640 range above its 50-day average near $0.7600 but below $0.7700 and $0.7780 resistance. RSI on 50 confirms pair in consolidation mode.

Leave a Reply

Your email address will not be published. Required fields are marked *