U.S. Dollar Continues Its Relentless Assault Higher
Posted: Aug. 28, 2023, 7:51 a.m.
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Australian DollarTechnicals (September) Australian futures continue to slide despite attempts from the PBOC to stabilize their economy. Momentum studies slide back into oversold territory. Futures would need to rally to 0.66990 in order to Neutralize the current Bearish Trend. Bias: Bearish/Neutral Previous Session Bias: Bearish/Neutral Resistance: 0.67630*** Pivot: 0.65990 Support: 0.64000-0.63500** |
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British PoundTechnicals (September) The British Pound continues to slide with little area of support. Futures will need to close above 1.2842 in order to flip from a Bearish to a Neutral trend. Bias: Bearish/Neutral Previous Session Bias: Bearish/Neutral Resistance: 1.3000*** Pivot: 1.2842 Support: 1.2525***, 1.2412** (200 DMA) |
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Canadian DollarTechnicals (September) Canadian Dollar futures continue to slide down to new contract lows. A close over the 200 DMA at 0.74530 is needed to rekindle some bullish momentum. Our Bear trend neutralizer remains at 0.74960. Bias: Bearish/Neutral Previous Session Bias: Bearish/Neutral Resistance: 0.77015**, 0.76000*** Pivot: 0.74500 Support: 0.73500** |
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Euro CurrencyTechnicals (September) The Euro broke its 200 DMA and continues to drift lower. It would take a move back through 1.102230 to get back to Neutral. Bias: Bearish/Neutral Previous Session Bias: Bearish/Neutral Resistance: 1.11000*** Pivot: 1.10000 Support: 1.08000** |
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Japanese YenTechnicals (September) Futures have been unable to draft any support with futures making a new contract low on Friday. Our trend neutralizer level remains at 0.706300. However, it would take a much larger move to 0.725000 in order to start a new up wave.Bias: Bearish/Neutral Previous Session Bias: Bearish/Neutral Resistance: 0.725000*** Pivot: 0.706300 Support: 0.685000*** |
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Swiss FrancTechnicals (September) The Swiss Franc flipped to a Bearish Trend, however it is not crashing like many other currencies. Momentum studies have fallen back into oversold levels. Keep an eye on the 200 DMA at 1.12020 as your first major support level. Bias: Bearish/Neutral Previous Session Bias: Neutral Resistance: 1.15245*** Pivot: 1.13790 Support: 1.13000** 1.12020-1.11640*** |
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U.S. DollarTechnicals (September) The U.S. Dollar continues its relentless move higher. Critical support remains at the 200 DMA at 102.55 and 102.00. It would take a move under 102.30 to shift to a Neutral trend and a move under 100.00 to shift to a Bearish trend. Bias: Bullish/Neutral Previous Session Bias: Bullish/Neutral Resistance: 104.00*** Pivot: 102.30 Support: 101.00*** |
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