Technical trading & analysis report – 13 October 2015
James Chen October 13, 2015 7:51 PM
<p>City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. […]</p>
City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD.
The focus is on technical price trends and major support and resistance levels.
EUR/USD has continued its gradual rise within a prolonged consolidation, but the 1.1450 level could prove to be a strong resistance barrier to further gains.
GBP/USD has fallen from major resistance around a key downtrend line and the 50-day moving average, and could drop further towards the 1.5000 level.
USD/JPY has dropped to the bottom of its prolonged triangle consolidation, and continues to carry a strong bearish bias.
AUD/USD has stalled in its recent rebound and could move towards a revisit of its long-term lows.
USD/CAD has tentatively rebounded before reaching down to key 1.2800 support and could soon begin to recover its recent losses.
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