Technical trading amp analysis report 19 April 2016

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 risen back up towards major resistance on a resumption of US dollar weakness.

GBP/USD has also surged on dollar weakness, but continues to trade in a large consolidation not far above its long-term lows.

USD/JPY has once again bounced from key support at 108.00, but could be poised for a potential breakdown move to continue its recent sharp downtrend.

AUD/USD has broken out above major resistance at 0.7700 and could further extend its bullish trend on a continued rebound in commodities.

USD/CAD has extended its sharp downtrend on a recovery in crude oil and sustained weakness in the US dollar.

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