A more significant breakdown for the Canadian, Australian and New Zealand Dollars this week versus the US Dollar (as we had signalled in recent posts). This leaves a still more bullish tone for the Greenback against these Dollar-Bloc currencies into mid-July (and also elsewhere; EURUSD lower and USDJPY higher).
- Yet another setback to yet another new low for 2015 to now approach a key long term support target, a basing support level from 2008-2009 at .7269.
- The growing risk is for a more significant break through here to a long term retracement level at .7091 and to the option/ psychological target at .7000.
Monthly AUDUSD Chart
- As expected a failure back from ahead of the down trend line from April to another new 2015 and bear trend low.
- This now aims for key 2010 support at .6552.
- Below here targets a long term retracement level at .6404.
Monthly NZDUSD Chart
- A more bullish tone and as expected a push Wednesday through 1.2835, the previous 2015 peak.
- The July risk is now to the psychological / option target 1.3000.
- Just above here sees the 2009 peak, at 1.3064, the high level for the over ten years!
Monthly USDCAD Chart