Technical trading & analysis report – 15 March 2016
James Chen March 15, 2016 5:54 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 pulled back down to key support after last week’s ECB-driven spike.
GBP/USD has retreated sharply after a prolonged bear market rally and could be poised to resume its bearish trend.
USD/JPY continues to consolidate near its recent lows, but could soon break out of consolidation after this week’s Fed meeting.
AUD/USD has pulled back after having risen sharply on stronger commodity prices and could continue to pare its recent gains as commodities retreat.
USD/CAD has shown signs of rebounding after having fallen to a major confluence of support on a recovery in oil prices.
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