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EUR/USD, USD/JPY and AUD/USD Forecast – US Dollar Recovers Slightly on Monday
The 200-day EMA is in this neighborhood, but it is flat, suggesting that perhaps people just aren’t that interested in putting a lot of risk on. That could be true, but I would also point out that we are in the dead of summer, and that of course means that volume is a little bit lighter anyway.
AUD/USD Technical Analysis
And in the Australian dollar, it looks like we are rallying just a touch, but at this point in time I would also point out that the 50-day EMA seems to be offering a bit of resistance. And then again, we have the 0.6550 level. That’s an area that has been a bit of trouble for quite some time. You’ll notice that there was a previous uptrend line that has proven itself to be somewhat resistant as well. It’s a bit of a messy trend line, but it does give you an idea of the overall attitude of the market.
While the Euro and the pound were both performing very well against the U.S. dollar, the Australian dollar just ripped it, so I don’t like the Aussie dollar in general and I do think that eventually, if the U.S. dollar starts to pick up strength, this one here is going to fall apart. I prefer to fade rallies in this market.
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