Technical trading & analysis report – 18 August 2015
James Chen August 18, 2015 7:00 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 from its 200-day moving average after a bullish run and could be poised for further downside towards 1.0800.
GBP/USD tentatively broke above the top of its recent month-long range after higher-than-expected CPI data from the UK.
USD/JPY has continued to trade within a tight range just off its highs, and remains within a strong bullish trend.
AUD/USD is fluctuating near its long-term lows and could be poised for a further move down towards 0.7000.
USD/CAD continues to trade within a pullback from its 1.3200-area highs, but could soon continue its run on a strong US dollar and weak crude oil.
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