Currencies Update

An up to date look at the gyration in prices and exploring potential setups. Please take note this is not a recommendation or trading service.

Dollar Index

Daily

• More rooms for the dollar to consolidate higher first before another sell off in the making
• Perhaps this is a build up for April rate hike scenario. Dollar index is also showing sign of a potential build up with shorts taking profit ahead of what potentially could be an April rate hike talk by the Fed. Therefore, going forward the USD will remain favorable to break higher – pressure on AUS/USD and NZD/USD will appear in the next few weeks with gold also looking lower.

USD/YEN

Daily

EUR/USD

Daily

GBP/USD

Daily

• Will be aggrassive buyer on a retest of previous low

NZD/USD

Daily

• Further weakness as the USD regained its footing but a retest on the lower channel may offer a decent RR for long

AUS/USD

Daily

• Still trading within the uptrend line but daily RSI is showing sign of bull exhaustion
• Cannot rule out that further upside remain in store but will be aggressive seller at the high