Technical trading amp analysis report 14 July 2015

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. […]


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By :  ,  Financial Analyst

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 remained in a trading range around the key 1.1100 level, but continues to carry a bearish bias towards its 1.0800 downside support objective.

GBP/USD has attempted to climb back from its plunge of the past several weeks, but is still trading within a short-term bearish trend.

USD/JPY has rebounded after dipping below 122.00 and could be targeting new highs.

AUD/USD is trading just off its six-year lows and may be poised to drop to new lows.

USD/CAD has reached its 1.2800 resistance target and could strengthen further on lower oil prices and continued US dollar strength.

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