EUR-USD Takes a Stab at 1.5000

By Mohammed Isah of fxtechstrategy.com

EUR-USD: As momentum continues to build up on the back of its Monday rally through the 1.4926 level, EUR was seen testing the 1.5000 level in the U.S. session today. A firm break and hold above there will turn focus to the 1.5062 level.

AUD-USD was also seen challenging the 0.9307 level today after violating its key resistance located at 0.9275. Risk has now shifted to its YTD high at the 0.9327 level.

The outlook for GBP-USD continues to point higher, having accelerated through key resistance at the 1.6692 and 1.6740 levels today. Although seen backing off higher prices, after testing the 1.6842 level, as long as the 1.6692 level holds as support, we still see further upside risk nearer term.

USD-JPY remains vulnerable to the downside as another intraday attempt at the upside failed, pushing the pair to a low of 89.72. Threats are seen toward the 89.16 level.

EUR-JPY has created a scope for a move higher toward the 135.71 level, having rallied strongly today, taking back almost all of its last-week losses.

EUR-GBP is now seen struggling to initiate higher recovery, having reversed its intraday losses off the 0.8896 level during the U.S. session. It was seen trading at the 0.8973 level at the time of this analysis. Immediate resistance lies at the 0.8998 level.

USD-CAD is now following through lower on the back of its past-week losses, trading as low as 1.0552 today. Further downside risk is seen toward the 1.0994 level.