The GBPUSD pair rose slightly during the session on Monday, but found the 1.68 level resistive. This was an area of support previously, so the fact that we did not break above there is in fact interesting.
The AUDUSD pair fell during the course of the day on Monday, but not significantly so.
Like many of the major currency pairs at present, it’s US dollar strength which has been the primary driver over the last few weeks, and for the USDCAD, which moved firmly lower once again, the decline in the price of oil has also added further momentum to the move.
EURUSD is facing 1.3444 resistance, as long as this level holds, the price action in the trading range between 1.3333 and 1.3444
Cable moved lower once again last week as a resurgent US dollar continued to drive the pair, with the September futures contract closing at 1.6770 on the daily chart.
The EURUSD pair initially fell during the day on Thursday, but as you can see found support at roughly the same place it did during the Wednesday session.
Yesterday’s attempt by the Aussie dollar to break out from the current congestion with a move higher, was promptly snuffed out today, as poor employment data shocked the markets, sending the currency lower against the US dollar.
The EURUSD pair fell during the bulk of the session on Tuesday, but found enough support just above the 1.3325 level in order to bounce and form a nice-looking hammer.
The AUDUSD pair rose during the course of the day on Wednesday, breaking above the 0.9350 handle.
The Canadian dollar has continued to come under heavy selling pressure once again today, driven by a resurgent US dollar, which has now broken through the key 81.30 level on the daily chart of the dollar index, to move firmly higher from this platform of support which is now in place.
