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Weekly Strategy Webinar: Key Trading Levels on the US Dollar Majors

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US Dollar Testing Yearly Highs Post-NFP, FOMC

Here we go again- This is the eighth attempt for the DXY to breach above the 200-week moving average and the focus is on this threshold heading into the start of the week. The summer doldrums are upon us and while markets remain range-bound, a broader look at price still has the majors pressing critical inflections zones early in the month. Patience pays during these time periods; remember, times of contracting price action typically precede larger surges in volatility. Simply put, things can / will change quickly- be ready and know the trading levels.

Key Trade Levels in Focus

DXY - Looking for resistance ahead of yearly highs - Near-term support still 94.20/24

USD/JPY - Looking for resistance ahead of the monthly open at 111.88 - Key support still 110.70/88 .

EUR/USD - Testing critical support zone at 1.1529/54 . Key resistance at 1.1616

GBP/USD - Key support confluence rests at 1.2877 , looking for a reaction there. Resistance at 1.3164

AUD/USD - The focus is on a break of the 7327-7500 zone with the RBA on tap tonight

For a complete breakdown of Michael's trading strategy, review his Foundations of Technical Analysis series on B uilding a T rading S trategy

Highlighting this week's economic calendar will be RBA (Reserve Bank of Australia) & RBNZ (Reserve Bank of New Zealand) interest rate decisions, Japan & UK 2Q GDP and the US Consumer Price Index (CPI) on Friday. In this webinar we review updated technical setups on DXY, EUR/USD, GBP/USD, GBP/JPY , AUD/USD , USD/CAD, NASDAQ, Crude, Gold , Bitcoin (BTC/USD) and USD/JPY.

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Key Event Risk This Week

Economic Calendar

Economic Calendar - l atest e conomic d evelopments and u pcoming event ri sk

Weekly Technical Updates:

---Written by Michael Boutros , Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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