Forex Technical Major Pairs analysis July 23, 2018

As it stated in USDX (USD Index)The bearish movement of U.S dollar index continues at the beginning of the week and the index testing 94.30 support level. Today critical level to watch:Support: 1.1710, 1.1650, 1.1600Resistance: 1.1820GBP/USDThe weakness of GBP/USD dissipates when the pair hit the bottom of its bearish channel. The bounce happens from the bottom of the channel and 1.3000 support level as expected. Today critical level to watch:Support: 1.3100, 1.3000Resistance: 1.3250, 1.3300USD/JPYLong position from the trendline and breakout point 111.00 is the best idea for USD/JPY. Today critical level to watch:Support: 0.7400, 0.7330Resistance: 0.7500

Forex Trading: USDCAD Technical Analysis – July 23, 2018

The US Dollar (USD) inched higher against the Canadian Dollar (CAD) on Monday, increasing the price of USDCAD to more than 1.3100 following some key economic releases. The technical bias remains bullish because of the higher high in the recent upside move. USD/CAD Technical AnalysisAs of this writing, the pair is being traded around 1.3132. The technical bias shall remain bearish unless it breaks the 1.3100 resistance level. The agency reported the dip as the unemployment rate held steady at 5.8 per cent for the fourth consecutive month.

Forex Trading: AUDUSD Technical Analysis – July 23, 2018

as declared in The technical bias shall remain bearish because of a lower low in the recent downside move. AUD/USD Technical AnalysisAs of this writing, the pair is being traded around 0.7404 . The technical bias shall remain bearish as long as the 0.8024 resistance area is intact. The Reserve Bank left rates on hold at 1.5 per cent. Trade IdeaConsidering the overall technical and fundamental outlook, buying the pair around current levels may be a good strategy in short to medium term.

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