Technical trading & analysis report – 16 February 2016
James Chen February 16, 2016 8:54 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 towards 1.1100 support on an extended pullback from recent highs.
GBP/USD has accelerated its retreat and could be poised to resume its entrenched bearish trend.
USD/JPY has rebounded from recent lows after its early February plunge but could resume its fall on any continued volatility in equities.
AUD/USD remains in consolidation but continues to trade within a long-term bearish trend.
USD/CAD has risen off its recent lows and could be poised for a larger bounce on continuing weakness in crude oil.
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