Technical trading & analysis report – 21 July 2015
James Chen July 21, 2015 5:53 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 reached its downside target of 1.0800, and continues to carry a bearish bias.
GBP/USD has pulled back further and could be poised for further downside below 1.5500.
USD/JPY remains in a short-term bullish run and could now be targeting its recent multi-year high.
AUD/USD continues to trade lower after hitting a new six-year low.
USD/CAD has reached its 1.3000 resistance target and could strengthen further on lower oil prices and continued US dollar strength.
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