Technical trading amp analysis report 22 March 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 pulled back once again as the US dollar has rebounded following last week’s Fed-driven plunge.

GBP/USD has also retreated sharply after last week’s rally to 1.4500 resistance, and could be poised to resume its bearish trend.

USD/JPY has lifted slightly off its major 111.00 support lows, but could soon break down on any return of market volatility and continued yen strength.

AUD/USD has pulled back modestly after having risen sharply since January on stronger commodity prices, and could be in for a further recovery.

USD/CAD has shown signs of a rebound after having fallen to the key 1.3000 psychological support level, but could soon break down further as crude oil prices continue to recover.

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