Forex Tuesday the 18th of April

Good day to all, after the long weekend we are back into trading action with the Dollar weakened at the end of last week but bulls still hoping for a full scale reversal. For me the key level to watch out is the 101.50 in the short-term Dollar index chart and the 98.80 support and March lows. For a Dollar index analysis follow this link.

I have also posted some EURUSD and USDCAD analysis which you can read.

Here are the charts from these posts. General view remains bullish for both pairs looking for 1.10 and 1.40 respectively with important support levels at 1.30-1.31 for USDCAD and 1.05 for EURUSD.

The USDJPY is very close to my target and a bigger bounce could come from the 108 area. I cannot rule out an extension lower towards 104-105 but for this to play out, we need to remain below 112-112.50.

NZDUSD remains above critical trend line support. 0.69 is key. If broken, we will see 0.67.

AUDUSD key resistance remains at 0.7750. As long as we trade below it, in danger of pushing towards 0.73


Thank you for taking the time to catch up on my thinking.


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