Technical trading amp analysis report 7 July 2015

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 dropped significantly on uncertainty regarding the situation in Greece, and could be poised to target the 1.0800 and 1.0500 support levels to the downside.

GBP/USD has plunged below 1.5500 support and could pull back further towards 1.5200.

USD/JPY continues to consolidate above key 122.00 support within a long-term bullish trend.

AUD/USD broke down to hit its 0.7500 target and has dropped further towards its next major downside target at 0.7300.

USD/CAD continues to rise sharply towards its 1.2800 resistance target on lower oil prices and US dollar strength.

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