US Dollar Matrix |
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OVERVIEW : The big confrontations this week look to be bearish weekly trend at 1.0070/88CAD vs its June/weekly breakdown support at .9941/01, and the opposite weekly uptrend in Aussie vying against its Q2 target high zone at .9594/.9614. Although both long term zones are expected to hold for the week, a break/close thru opens the door to reaccelerated downside in the US$. Elsewhere, weekly momentum in Sterling is still bearish, but the failure to break down last week leaves a neutral setup.
Filed under: Technical
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