We take a look at the daily chart of EUR/USD, GBP/USD and AUD/USD to highlight key levels for the week ahead.
- The Euro remains within a bearish channel, although near-term momentum is bullish.
- A reversal back above 1.13 marks a bear-trap at the lows.
- A break of the channel brings the 1.1500 high into focus.
- Cable could be in for another volatile week surrounding Brexit developments.
- Despite negative sentiment, GBP is holding above this year’s low.
- The 100-day MA’s and spinning top Doji around 1.3072 marks a counter-trend target in the event of a positive surprise.
- A bullish trend is forming since breaking out of a bearish channel.
- The Aussie is carving out an inverse head and shoulders reversal which projects a target around 0.76.
- The 0.7453/84 zone could provide interim resistance.
AUDUSD Daily Chart