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US Dollar Rebound Not There Yet: AUD/USD, GBP/USD, USD/JPY Setups

US Dollar Rebound Not There Yet: AUD/USD, GBP/USD, USD/JPY Setups

2014-03-25 12:05:00
Christopher Vecchio, CFA, Senior Strategist
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Talking Points:

- EURUSD and GBPUSD look weak despite yesterday's late rally.

- AUDUSD proving the strongest, weathering headwinds from China.

- Several important events on the US economic calendar today.

To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.

The US Dollar has gained little traction in the wake of the FOMC's taper decision last week, and as a result it has experienced choppy trade versus the components of the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR).

While the EURUSD and GBPUSD remain at or below their post-FOMC lows, and the USDJPY remains near its post-FOMC highs, the AUDUSD has broken free of risk trends and continues to rise despite perceived headwinds. Short-term consolidations in these four pairs offer identifiable and actionable trading points over the next few days to reference.

Read more: Euro Short-term Breakdown Gathering Pace: EUR/USD, EUR/AUD

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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

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