With the dollar continuing to make significant gains, James Chen takes a look at the technical outlook for several major currency pairs as well as gold.
- The EUR/USD pair is still breaking down below major support levels, with $1.30 acting as strong resistance
- GBP/USD dropped below its 200DMA, though it is consolidating a rebound with $1.65 capping gains
- The USD/JPY is touching very long-term highs around the ¥109 level, with a target of ¥110
- A break below support for AUD/USD at $0.8850 would suggest a move towards $0.8659
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Video content by James Chen, Chief Technical Analyst, City Index.
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