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.
- 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
Monthly USDCAD Chart
- 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
- 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
Monthly NZDUSD Chart