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USDCAD Eyeing a Multi-Year High, EURUSD Attempting a Bear Shift and NZDUSD Down Trend Intact

Technical Analysis

 

A still more bullish theme resuming for the US Dollar this week, with strong signals against G10 currencies. Of particular note, a bullish extension by USDCAD, a more negative EURUSD bias and a lacklustre NZDUSD rebound all point to further US$ gains into latter July.

USDCAD

  • Solid price action above the psychological / option target 1.3000 has reinforced the previous break above the prior 2015 peak at 1.2835.
  • We now see a bias through a high for over 10 years, the 2009 peak high at 1.3064.
  • Through here would aim at higher targets at 1.3346 and 1.34540.

Daily USDCAD Chart

USDCAD

Monthly USDCAD Chart

USDCAD

EURUSD

  • A probe below a key support this week at 1.0819.
  • We now see bias for a still more bearish break through 1.0819/07.
  • A firm break here aims lower for targets at 1.0658, 1.0520 and 1.0459.

Daily EURUSD Chart

EURUSD

NZDUSD

  • A lacklustre bouche effort this week after the previous break below the long term support at .6562.
  • This leaves bias for a roll back lower and for a bearish extension to another new 2015 bear trend low.
  • We see risk to the 2009-2011, 61.8% retracement level at .6404.
  • Overshoot risk into August is to .6196/54 and .6000.

Daily NZDUSD Chart

NZDUSD

Monthly NZDUSD Chart

NZDUSD

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