EURUSD: Bias remains bearish whilst beneath 1.1500
|The Turkish rout shook global markets last week with sentiment continuing to sour early Asia today. With several markets breaking key levels, we look at the daily charts of EUR/USD, AUD/USD and USD/CAD for potential setups.
EUR/USD
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Friday’ close confirms a bearish triangle with a target just above the June ‘17 lows.
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Bias remains bearish whilst beneath 1.1500.
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A break of 1.1312 brings 1.1119/33 lows into focus.
AUD/USD
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Bearish trend resumes following a close beneath key support (May ’17 low / Fibonacci level).
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The prominent swing high at 0.7453 keeps the bearish channel intact.
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Focus shifts to the 0.7148/63 lows and the lower channel.
USD/CAD
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Friday’s close above March’s high shows short-term momentum has realigned with the bullish trend.
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A corrective channel could provide interim resistance.
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Ultimately we’re looking for a move towards the 1.3290 and 1.3385 highs.
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