Euro rebounded off near-term downtrend support this week with the recovery vulnerable into the 1.20-handle. The levels that matter on the EUR/USD technical charts.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US Crude-bearish contrarian trading bias.
The Euro may be at risk as retail traders are increasing their long exposure in EUR/USD and EUR/GBP. What is the road ahead and what are key technical levels to watch out for?
USD/CAD rates may have experienced a failed bullish breakout, while CAD/JPY rates have been able to maintain their uptrend from the February and April 2021 lows.
The Australian Dollar recovery may be vulnerable after last week’s plummet through the 2021 range lows. The levels that matter on the AUD/USD weekly technical chart.