12 Jan 2015
USD heavily offered to start the week
FXStreet (Bali) - The US Dollar is selling off across the board in early Asian trade, with traders re-assessing positioning in the world's reserve currency following a disappointing wage growth read in the US last Friday.
USD/JPY is pressing against the 118.20 area, AUD/USD is storming through a very important swing high at 0.8210, setting a new 3-week high at 0.8230. NZD/USD is also breaking through a key level at 0.7850, en-route to 0.7870 (Dec 11 high). EUR/USD has breached 1.1850 resistance, while GBP/USD is threatening 1.52 now.
Looking at the DXY index, Jim Langlands, Founder at FXCharts, notes: "The DXY virtually reached our long term target of 92.63 (Nov 2005 high) last week, in peaking at 92.52 before turning to finish the week just below 92.00. While the monthly charts suggest that there is plenty of room to the upside over the course of 2015, the dailies and weeklies are suggesting some near term caution is warranted and that a correction may be due."
USD/JPY is pressing against the 118.20 area, AUD/USD is storming through a very important swing high at 0.8210, setting a new 3-week high at 0.8230. NZD/USD is also breaking through a key level at 0.7850, en-route to 0.7870 (Dec 11 high). EUR/USD has breached 1.1850 resistance, while GBP/USD is threatening 1.52 now.
Looking at the DXY index, Jim Langlands, Founder at FXCharts, notes: "The DXY virtually reached our long term target of 92.63 (Nov 2005 high) last week, in peaking at 92.52 before turning to finish the week just below 92.00. While the monthly charts suggest that there is plenty of room to the upside over the course of 2015, the dailies and weeklies are suggesting some near term caution is warranted and that a correction may be due."