USD Strength Continues Pressings Into New Trading Levels For 2021
The USD is on the front foot this week, and is pushing pairs to fresh levels for the year. Check out the best setups for today!
Price is breaking below the first AOI we outlined yesterday. We are now looking for a continued move into the support trendline around the 0.7200 figure. We are long term bearish the Aussie, and expect it to trade to 0.6800 by the end of this year.
Price has strong downside momentum, and we are looking for this to continue into the trendline support / 0.7220 support zone.
EUR/USD has moved to the downside as we outlined yesterday, and we are now looking for a retracement back into the trendline / previous structure. The RSI is showing bullish divergence, another indication we may see a retracement.
Price is now well and truly pressing to the downside, having broken the previous 2021 low. We're looking for continued downside below the 1.3200 level.
There is bullish divergence on the 1h RSI, so we may see a correction, however our downside bias suggests to sell any pullbacks.
Price has reached our initial upside target, and we are now seeing price pull back. We have outlined our first potential support around the 1.2500 significant figure.